An Iranian tanker is moored at Royal Dutch Shell's Singapore refinery to discharge crude oil, according to Reuters data and sources, highlighting the different approaches European oil companies are taking to Iranian oil ahead of an EU ban. The 270,000-tonne supertanker Delvar arrived on Thursday at Bukom island, where Shell's 500,000 barrel-per-day (bpd) refinery is located, tanker tracking data seen by Reuters showed.
The vessel, part of the fleet of the National Iranian Tanker Co, is due to discharge 1.5 million barrels of crude, three sources said on Friday. Oil traders had speculated Tehran was struggling to sell the cargo due to tightening sanctions.
"Yes, Shell bought it. There is no other reason for it to be anchored at Bukom," said a Singapore-based ship broker. Shell's continued involvement in Iranian oil contrasts with some rivals such as Total, which have already stopped buying the crude ahead of the European Union ban starting from July 1. With the ban yet to take effect, Shell is doing nothing illegal.
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