Oil Swap Capacity  to Rise

Oil Swap Capacity to Rise

Once Neka’s oil pool in Behshahr Operational Zone is completed, Iran’s oil swap capacity from North Oil Terminal will reach 2.5 million barrels, the Oil Ministry’s deputy for international affairs said on Monday.  “The capacity increase plan will take place in three stages, during which it will be raised by 500,000 barrels, 1 million barrels and 2.5 million barrels in the last stage,” Amirhossein Zamaninia was quoted as saying by Shana on the sidelines of the Fourth International Exhibition of Transportation and Rail Industry 2016. Referring to Iran’s 12 neighboring countries that have oil and gas reserves, the official said it would be economically viable for them to use Iran’s vast lands for swapping hydrocarbon materials. Zamaninia said Iran welcomes swap deals with neighbors, which will bolster regional integrity and development. “In line with the goal, Iran plans to build new ports, including Jask Oil and Gas Terminal in the south and Behshahr Operational Zone in the north, which is currently capable of swapping 120,000-130,000 barrels a day,” he said.


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