Iran plans to swap Iraqi KRG's crude oil

Gas flares from an oil production platform are seen at the Soroush oil fields in the Persian Gulf, south of the capital Tehran.

Iran plans to swap crude oil of Iraq's Kurdistan Regional Government (KRG) to its customers in Iran's Persian Gulf ports, Press TV reported Friday.

According to the plan, Iran will import 100,000 barrels per day of oil from the KRG to be refined at Iranian refineries, Abdolrasoul Mirzaei, the board chairman of Iran's Raham Refinery, was quoted as saying.

Iran will accordingly deliver an equal volume of oil with close technical specifications to international clients of the KRG at its southern ports, Mirzaei said.

In August, Iran announced that it would resume the swap of the Caspian crude oil through Persian Gulf ports, which was halted in 2010.

Iran would swap at least 100,000 barrels per day, and the volume would increase in the future, said Pirouz Mousavi, the managing director of the Northern Oil Terminals Company of Iran. 

Source : XINHUA