ID :
211781
Sat, 10/08/2011 - 10:05
Auther :
Shortlink :
https://oananews.org//node/211781
The shortlink copeid
South Korea to invest in Iran’s cross-country pipeline project
TEHRAN,Oct.8(MNA) - Iran and South Korea have signed a cooperation agreement to lay a 1680-km pipeline for transferring oil from Neka Port in the Caspian Sea to Jask Port in the Oman Sea.
Iran announced the plan of the pipeline five years ago, but at last recently the Iranian oil ministry has signed a contract with a Korean company for constructing the pipeline.
The proposed 3.3-3.7 billion dollars pipeline is due to transit one million barrels of oil per day from Caspian Sea littoral states and Caucasus region to the Persian Gulf.
Last week, managing director of the National Iranian Oil Company (NIOC) said Iran intends to boost the volume of its oil swaps to 200,000 barrels per day by the end of the current Iranian year (March 20, 2012).
Ahmad Qalebani emphasized that bartering oil is high on the agenda of NIOC, adding that the company is in talks with Central Asian countries to increase the volume of its oil swaps, which currently stands at 25,000 barrels per day.
The official noted that new contracts on oil bartering will be finalized soon.
Pointing to the country's potential in swapping oil products, Qalebani said that by using newly devised mechanisms, the demand for trading oil through barter deals will definitely climb in coming months.
Earlier in September, International Affairs Director of NIOC Mohsen Qamsari announced Tehran plans to gradually boost the volume of oil swaps with Caspian Sea littoral countries.
According to Qamsari, almost 500,000 barrels of crude oil have been delivered to Neka Port in northern Iran since the resumption of oil swap operations with the Caspian Sea littoral states in July.
Iran imports oil from the Central Asian countries for refining at Tehran and Tabriz oil refineries and then delivers the product to buyers in the Persian Gulf.
Iran is the second largest oil exporter within the Organization of Petroleum Exporting Countries (OPEC).
Iran announced the plan of the pipeline five years ago, but at last recently the Iranian oil ministry has signed a contract with a Korean company for constructing the pipeline.
The proposed 3.3-3.7 billion dollars pipeline is due to transit one million barrels of oil per day from Caspian Sea littoral states and Caucasus region to the Persian Gulf.
Last week, managing director of the National Iranian Oil Company (NIOC) said Iran intends to boost the volume of its oil swaps to 200,000 barrels per day by the end of the current Iranian year (March 20, 2012).
Ahmad Qalebani emphasized that bartering oil is high on the agenda of NIOC, adding that the company is in talks with Central Asian countries to increase the volume of its oil swaps, which currently stands at 25,000 barrels per day.
The official noted that new contracts on oil bartering will be finalized soon.
Pointing to the country's potential in swapping oil products, Qalebani said that by using newly devised mechanisms, the demand for trading oil through barter deals will definitely climb in coming months.
Earlier in September, International Affairs Director of NIOC Mohsen Qamsari announced Tehran plans to gradually boost the volume of oil swaps with Caspian Sea littoral countries.
According to Qamsari, almost 500,000 barrels of crude oil have been delivered to Neka Port in northern Iran since the resumption of oil swap operations with the Caspian Sea littoral states in July.
Iran imports oil from the Central Asian countries for refining at Tehran and Tabriz oil refineries and then delivers the product to buyers in the Persian Gulf.
Iran is the second largest oil exporter within the Organization of Petroleum Exporting Countries (OPEC).
