Iran's oil swaps with Caspian states reach 300,000 barrels

Iranian oil swap deals with Caspian states reached 300,000 barrels in
mid-July. The volume will be sent to southern terminals in 90 days,
Director General of the National Oil Company of Iran, Ahmad Galebani,
said, Trend reports.

Galebani underlined that the Iranian oil sector managed to attract $18
billion last year (ending on March 20, 2011, according to the Iranian
calendar) and the figure is set to reach $25 billion.

The pipeline for Neka terminal allows transport of 500,000 barrels of
oil to the refineries from Tehran to Tebriz.

In April 2010, four foreign companies refused to sign swap deals with
Iran. However, they renewed cooperation in the sphere.
Iran had swap deals worth $146 million in 1997-2010.