Iran is taking steps for its official return to the international oil market after more than three years of partial absence.
Officials from state-owned National Iranian Oil Co. are meeting at least two South Korean refiners to discuss a potential return of supply from the Persian Gulf producer, according to people with knowledge of the talks, Bloomberg reported.
The discussions are reportedly at a preliminary stage with volumes and a possible timeline yet to be specified, one of the people said.
South Korea used to be one of the biggest buyers of Iran’s ultra-light oil.
The move comes as the Islamic state said it’s rushing to get a good nuclear deal in negotiations in Vienna and the European Union’s top diplomat said that he believed an accord was “in sight.”
