Iran to lift LPG delivery

Iran will soon raise the capacity of carrying liquefied petroleum gas (LPG) in the near future with a view to diversifying the country’s income mix, a top official said. Ali Akbar Safaei, managing director of National Iranian Tanker Company, said the company is effectively present in the supply chain of oil, gas and petrochemical products in a bid to diversity the country’s revenue mix, the oil ministry's website reported. He said that the NITC is determined to provide much more services to the shareholders of this company in the near future. Iran is determined to carry at least 44,000 tons of LPG to international markets every month. The NITC is currently the second largest oil carrying company in the world with a capacity of more than 16 million tons. NITC was recently removed from the list of US government sanctions. The sanctions relief will remove all obstacles about insurance coverage and banking services required for crude oil exports to China, India, Turkey, Taiwan, Japan and South Korea. The development follows the implementation of an interim nuclear accord, which was signed last November between Iran and six world powers and which took effect on January 20.