Russian firms exporting more crude oil to Iran

Russian firms are stepping up exports of crude oil to Iran.The latest deal, involving OAO Lukoil's preliminary agreement for a long-term supply of Russian crude oil to Iran, follows a $167.45 million deal struck in December to supply 45,000 b/d of Russian crude to a Chinese-led consortium for refining in Tehran and Tabriz.Iran has been positioning itself as a transit point for crude oil from countries bordering the landlocked Caspian sea, and it has arranged a series of swaps whereby Caspian oil is received for northern Iraqi refineries, and equivalent amounts of Iranian oil are exported through terminals on Iran's Persian Gulf coast (OGJ, Mar. 5, 2001, p. 74, and OGJ Online, June...

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