Iran soon to resume crude swap with Caspian states
Iran is preparing to soon resume crude oil swap with Caspian states, director of Iran's North Oil Terminal, Hamid Reza Shahdoust, said. Preparations began at Neka oil terminal for oil swap based on order of the National Iranian Oil Company (NIOC), Shahdoust said, IRNA news agency reported. Shahdoust further said the country plans to increase the swap capacity with Caspian states from the current level of 120,000 barrels per day (bpd) to 1.5 million bpd.