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First Iranian ship used for oil storage sails for Asia after nuclear deal

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Reuters LONDON
Last Updated : Jul 16 2015 | 10:57 PM IST

LONDON (Reuters) - An Iranian supertanker with 2 million barrels of oil is on its way to Asia after sitting in Iranian waters for months, likely to be the first vessel holding floating excess stocks to sail after a nuclear deal, data showed on Thursday.

Iran and six major world powers reached a landmark nuclear deal on Tuesday, clearing the way for an easing of international sanctions on Tehran and higher oil exports. Oil analysts expect a major return to the market by Iran only next year.

In the meantime, Iran has been parking millions of barrels of oil onboard tankers in its waters that it could sell.

The fully laden Starla, operated by Iran's top tanker group NITC, had been used for floating storage since Dec. 12, 2014, a tanker tracking source said.

Reuters Eikon data showed the vessel was sailing from the Middle East Gulf with a Singapore destination.

(Reporting by Jonathan Saul; editing by David Clarke)

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First Published: Jul 16 2015 | 10:41 PM IST

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