Iran To Go Ahead With 600,000 bpd Oil Derivatives’ Swap With Neighbors

Tehran, Sept 30, IRNA – Managing Director of Iranian Oil Pipelines and Communications Company, Ali Ziar, said on Saturday that Iran will go ahead with swap of 600,000 bpd oil derivatives with the neighboring countries, especially Iraq. Ziar said at the same time that Iran is planning to transit one million bpd crude oil. He said that Iran is a major energy corridor in the region, adding that for the purpose it will develop oil and gas pipelines. "Regarding Iran’s geographical position, any investment in the industry should be so that would encourage the other states to expand fuel transit using Iranian pipelines and Iran would be able to use the chance in the best possible manner." He said that a look at regional states, including Iran neighbors in terms of gas and oil trade, shows there are very suitable opportunities for development of oil and gas pipelines contributing to Iran’s cooperation with regional states in oil and gas transfer. He said countries such as China and India would win 25 percent share in world energy consumption by 2030, so Iran will turn into one of the key points of energy, in light of its place on the corridor to meet the countries’ fuel requirements. Using the country’s geographical location would be an important mission and plans should be made from now on for the purpose, he added./end