A proposed European Union ban on imports of Iranian crude oil wouldn't have a major affect on Iran because alternative markets exist for its oil, but could have a short term impact on some buyers of its oil, said Total SA (TOT) Chief Executive Christophe de Margerie Wednesday.
A proposed European Union ban on imports of Iranian crude oil wouldn't
have a major affect on Iran because alternative markets exist for its oil, but
could have a short term impact on some buyers of its oil, said Total SA (TOT)
Chief Executive Christophe de Margerie Wednesday.
"The market always finds a solution by itself," he told reporters at
the World Petroleum Congress in
Doha
,
Qatar
. "It
might impact on some buyers depending on specific crude qualities.
"I don't think that it will have a major impact on
Iran
"
because oil it sells to the region could find a market in
Asia
, he
said. After a period of time in which the oil market adapted, "the part
which is not sold to the OECD will be sold elsewhere," he said.
The 700,000 barrels a day
Iran
ships
to
Europe
today will one day find its route to Asian
markets, he said.
Total has shared its views to "people in charge" of deciding whether
Iranian crude should be banned, he said, but declined to say specifically who
those parties were.
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