Iran expects to complete a pipeline and a terminal to export a new grade of crude by year-end, boosting the country's drive to ramp up oil production to pre-sanctions levels.

Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data.

Two Iranian-owned oil tankers are sailing to the heart of northern Europe's refining and trading hub for the first time since sanctions on the country were lifted last year, oil trading and shipping sources told Reuters.