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Kazakhstan, Iran discuss resumption of oil swap operations

Business Materials 19 September 2014 17:12 (UTC +04:00)

Astana, Kazakhstan, Sept. 19

By Daniyar Mukhtarov - Trend:

The Kazakh and Iranian sides started the negotiations on the resumption of oil swap-operations, director general of KazEnergy association Aset Magauov told reporters Sept. 17.

"The negotiations will concern the exchange ratio, the coefficient for the quality of oil and other economic nuances," he said.

"Both sides are interested in the resumption of oil swap-operations," he said.

"It is essential for Iran to provide its oil refineries in the north of the country with oil," he said. "Kazakhstan is interested in diversifying its export oil routes."

He reminded that earlier, these operations were profitable for both sides.

"We supplied oil to the north of Iran via tankers through the Caspian Sea," he said. "But Iran gave the negotiated volumes in the ports of the Persian Gulf. Thus, we immediately entered the world market."

An agreement was reached on the resumption of oil swap-operations during the Iranian president's recent visit to Astana.

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