Iran outlines plans to ship 300,000 barrels of oil a day to Europe

Iran’s oil minister, Bijan Zanganeh, has spoken officially for the first time on plans to sell 300,000 barrels of oil a day to European customers.

Iran is trying to boost its oil exports by 500,000 barrels a day in the next few months, with much of the rest going to Asia.

Glencore, the Switzerland-based mining and trading giant, became the first Western company to load Iranian oil on the weekend, according to Reuters.

A tanker chartered by Glencore loaded 80,000 tonnes of fuel oil at the Iranian oil-products terminal of Bandar Mahshahr on Friday night and left for the United Arab Emirates.