Statoil and Eni refuse to buy Iranian oil even at discount

Iran is offering oil discounts to two major European companies, the
EU's economic advisor Mekhrdad Emadi said, Trend reports.

Iran offered the discount to Statoil (Norway) and Eni (Italy). The
companies refused the offer.

The Director General of the Iranian National Oil Company, Ahmad
Galebani, said that oil swaps with Caspian states reached 300,000
barrels in mid-July. The quantity will be sent to southern terminals
in 90 days.

Four companies realizing swap deals with Iran for 13 years refused to
continue them in April 2010. Now they are renewing the process.
Swap operations of Iran were worth $146 million in 1997-2010.

The UN Security Council passed the fourth resolution because of Iran's
refusal to stop nuclear developments. The resolution was approved by
the US Congress and all EU states. International sanctions do not ban
oil purchases from Iran, but create obstacles for bank payments (50%
of Iranian income).

India has been trying to find a new payment opportunity for 400,000
barrels of oil since December 2010, when the Indian Reserve Bank
banned the Asian Clearing Union operations. Indian oil companies paid
the first $1.43 billion through Turkey's Halkbank.
South Korea announced on August 3 that it cannot pay $3.82 billion for
Iranian oil. The quantity may reach $5 billion by the end of 2011.