Iran has reshuffled the leadership of its main state oil companies following the introduction of a new nationwide retirement law. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Masoud Karbasian, the former finance minister, was appointed managing director of National Iranian Oil Company (NIOC), replacing Ali Khardor, according to a statement late-Sunday on the oil ministry’s official news service Shana. NIOC produces the majority of Iran’s crude and petroleum liquids. Ahead of recently imposed US sanctions, Iran’s oil and condensate exports fell in October to around 1.77 million b/d, compared to 1.95 million b/d in September, according to cFlow data. S&P Global Platts Analytics expects 1.7 million b/d of Iranian crude and condensate to leave the market by the end of November because of sanctions. However, waivers issued by the US to eight of Iran’s crude customers have eased market concerns over supply […]