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IOTC Reviving Crude Oil Swap

IOTCO : Managing director of Iran’s Oil Terminals Company (IOTC), Seyyed Pirouz Mosavi, says speeding up development of infrastructures is necessary for launching crude oil swap in the North Oil Terminal located in the Caspian Sea shore.

IOTC Reviving Crude Oil Swap
(Thursday, April 9, 2015) 10:00

 Visiting North Oil Terminal, Mosavi further stressed on picking up the speed of repairing oil storage tanks of the terminal and dredging of its pond.  

By construction of various and multipurpose jetties including oil products loading and offloading facilities as well as setting up service and backing docks for berthing oil tankers with as much as 14 thousand tons capacity, IOTC plans to boost the capacity for crude oil swap with Caspian Sea littoral states.   

Existence of potentials for swapping 300 thousand barrels of crude oil per day is one of the advantages Central Asian countries enjoy it in Caspian Sea region. Meanwhile Iran enjoys proper infrastructures in the south, in Persian Gulf, for delivery of the same amount of crude oil to its northern neighbors.   

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