Iran resumes gasoline swap at Caspian Sea

Business Materials 16 June 2015 18:15 (UTC +04:00)

Tehran, Iran, June 16

By Mehdi Sepahvand - Trend:

The first cargo of gasoline in a newly resumed round of swap was unloaded and stored at Iran 's oil terminal of Anzali port.

The load was carried by a tanker and carried to a storage facility in the city of Rasth using 113 oil-carrying trucks, Fardin Charaji, director of the National Company for Refining and Distributing Oil Products of the Guilan district said, Iran 's Mehr news agency reported June 16.

The official did not provide any comments whether the source for the gasoline swap had been domestic or foreign.

Iran had stopped swapping oil products, especially fuel oil, with Caspian Sea littoral states and the Central Asia due to the high rate of the domestic production of the products.

Iran is ready to resume oil swap operations if it is profitable, Director of the International Affairs Department at National Iranian Oil Company Mohsen Ghamsari, had said in May.

Swap of oil between Iran and Caspian Sea states stopped due to swap fees in 2010. Iran persisted on five-folding the swap fees to $5/barrel, but this demand was not accepted.

" Iran currently has a daily 260,000-barrel crude oil swap capacity, while the ships with 12,000 tons capacity can dock in Neka," the head of the Iranian Oil Terminals Company (IOTC), Pirouz Mousavi said on April 22.

Swap operations earned Iran $880 million between 1999 and 2009.

Edited by CN