Total CEO says has stopped buying from Iran

January 25, 2012 15:50

DAVOS, Switzerland - French oil major Total has ceased buying oil from Iran in line with European Union sanctions against the Gulf producer, Chief Executive Christophe de Margerie said on Wednesday.

"We have already stopped," de Margerie said, adding the company had been buying roughly 80,000 barrels a day of Iranian oil.

De Margerie said he continue to disagree with the sanctions, adding: "I think oil will go somewhere else ... Iran may give a discount to make it easier and quicker but nothing will change."

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