Halted since 2012, Iran aims to resume oil swaps with its neighbors sharing borders with the Caspian Sea, a northern Iranian oil terminal agency said. The official Islamic Republic News Agency reported that authorities in charge of northern Iranian oil terminals were in preliminary talks with littoral countries to the Caspian Sea to start oil swaps. Directors there said Iran has the capacity to swap about 120,000 barrels of oil per day, though planned expansions to port facilities could raise that volume to 1.5 million bpd. “Through swap deals, oil of the littoral states of the Caspian Sea will be consumed in Iran, and the same amount of oil will be exported from southern ports of the country,” IRNA reported. Iran has long […]