Middle East Economic Survey

VOL. LIII

No 26

28-Jun-2010

IRAN

Iran Suspends Caspian Oil Swaps

Irans Deputy Oil Minister for International Affairs Hossein Noqrekar Shirazi told Mehr News Agency on 19 June that Iran has decided to freeze existing Caspian Sea oil swap agreements with Azerbaijan, Kazakhstan and Turkmenistan in an attempt to negotiate better terms. The announcement follows Dragon Oils decision to export crude from Turkmenistan via Baku rather through Iranian crude swaps, as it seeks...