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Russia, Iran in Oil Swap Talks

Russia, Iran in Oil Swap TalksRussia, Iran in Oil Swap Talks

Tehran is in talks with Russian companies on petroleum swap deals, Iran's deputy oil minister for international affairs Amirhossein Zamaninia said.

"Yes, we are," he said when asked whether the country is in talks with Russia on swap deals, TASS reported.

According to deputy minister, initially the deals may total 150,000 barrels per day to be increased to 500,000 barrels per day "within a short period of time."

Zamaninia also said that Tehran had previously discussed swap deals with Rosneft but failed to reach "progress in the talks," though the consultations are still underway.

In mid-August, it was reported that Iran was ready to resume oil trade under swap deals with its northern neighbors via the North Oil Terminal in Neka.

Petroleum swap deals allow Iran to turn around its oil supplies to refineries in the country’s north as the majority of its oilfields are located in the south.

"Lukoil, Gazprom, Rosneft, Gazprom Neft, Zarubezhneft and Tatneft - all have made preliminary agreements with Iranian companies. All these (Russian) companies need to do their homework and then get the ball rolling on sealing the agreements in the second half of December. Preliminary discussions are already over," he said.

Moscow and Tehran are also in talks over a potential exclusive presentation of Iran’s oil and gas contracts for Russian companies, Russia’s Deputy Energy Minister Kirill Molodtsov said, adding that the place and date are being discussed.

Rosneft, Gazprom, Lukoil, Gazprom Neft, Zarubezhneft and Tatneft have made a list of Iranian fields they are interested in.

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