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Iran signs Oil deal with European refiner as sanctions end

ATHENS: Iran signed an agreement to supply crude oil with Hellenic Petroleum SA, a Greek oil refinery, in what may be the Persian Gulf producer’s first such deal with a European company since the removal of international sanctions this month.

“Deliveries will begin immediately,” Hellenic Petroleum said in an e-mailed statement on Friday.

 Iran’s Deputy Oil Minister Amir Hossein Zamaninia discussed potential energy co-operation with Greek Energy Minister Panos Skourletis earlier on Friday in Athens.

European oil companies such as Royal Dutch Shell Plc, Eni SpA and Total SA have said they’re interested in returning to Iran to develop its oil reserves, which are the fourth-biggest in the world.