VOL. XLVII

No 19

10-May-2004

IRAN

Irans Caspian Crude Swaps Facilities At Neka Inaugurated By President Khatami

Iranian President Mohammad Khatami on 29 April inaugurated facilities at the Caspian Sea port of Neka for receiving crudes from Caspian Sea littoral states to be delivered by pipeline to the Tehran and Tabriz refineries, in return for a swaps fee of $2/B and equivalent volumes of Iranian crude to be offloaded from a Gulf terminal. The Caspian crude swaps facilities were said to comprise...