Iran launches talks with 4 states over oil swap

TEHRAN, May 08 (MNA) – Deputy oil minister has reported on negotiations with Turkmenistan, Azerbaijan, Kazakhstan and Russia on oil swap resumption.

Speaking at the conference on development of Iran-China economic trade cooperation on Sunday morning in Tehran, Deputy Oil Minister for International Affairs Amir Hossein Zamaninia emphasized that China has always been a good partner for Iran’s oil and gas industries; “relations with Chinese companies will continue during the post sanction period as Tehran backs boosting of bilateral ties.”

The official stressed that the removal of international sanctions has increased the willingness of world’s giant oil and gas firm to participate in Iran asserting “the country has defined programs and strategic axes in the oil and gas industry for the implementation of the Sixth National Development Plan during the post-JCPOA era.”

He enumerated the most major strategic policies pursued in the country’s development plan including increased production capacity of crude oil, condensate and natural gas, diversification of export markets as well as securing the demand for crude oil.”

Zamaninia also pointed to the planning to develop Iran’s gas trade by increasing natural gas exports to different countries commenting “currently, negotiations are underway with several countries and even the Omani minister of energy has travelled to Iran to finalize a contract over gas exports to the Persian Gulf littoral country.

Deputy oil minister pointed to the increase in swap of oil and petroleum products as yet another plan pursued by the country; “no swap is taking place at the present time though talks are in progress with Caspian Sea littoral states like Turkmenistan, Azerbaijan, Kazakhstan and Russia to resume crude oil swap.”

Referring to the conducted talks over constructing or buying stocks of oil refineries abroad, deputy oil minister said “the purpose of stock purchase or construction of refineries and oil refineries in foreign countries is to secure demand for Iran’s crude oil.”

 

HA/3619472

 

News Code 116418

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