Iran has announced the resumption of swaps of crude oil for petroleum products with the Caspian littoral states – Turkmenistan and Kazakhstan, after a five year suspension.
Lukoil—the second largest oil producer in Russia—sold its stake in Kazakh oil company Caspian Investments Resources to China Petroleum & Chemical Corporation,
Iran has marked resumption of Caspian oil swaps by taking delivery of the first gasoline cargo since 2010 when such deals were halted, local media said on Wednesday.