Russia and 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, Financial Tribune reported cting TASS.

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.”

“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. (Vestnik Kavkaza)