Middle East Economic Survey

VOL. LIII

No 18

03-May-2010

CASPIAN

Dragon Arranges Short-Term Crude Swap With Iran, Seeks Longer Arrangement

UAE-based Dragon Oil on 22 April said in its first quarter interim report that it had renewed for a short term a crude oil swap arrangement with Irans Naftiran Intertrade Company (NICO) on revised terms. Dragon said it was in the process of negotiation a new agreement with NICO, a subsidiary of the National Iranian Oil Company (NIOC). A 10-year agreement expired...