Lukoil ready to ship up to 2 mln tons of oil products to Iran in exchange for oil

​Lukoil is ready to ship about 2 mln tons of oil products to Iran in exchange for oil supply for its European oil refineries, the Vice –President, V. Nekrasov, said.

We are in the process of approval. We are ready to ship oil products to Iran in exchange for oil from Astrakhan. The maximum volume of transshipment from Astrakhan is 2 mln tons. We will ship oil from Iran to the plant in Sicily, a plant in Burgas can also process it, he said.

Previously Lukoil worked in the market in Iran. In 2003 it entered the consortium with Nors hydro (Norway) with the stakes of 25% and 75% by the project of geological exploration at the block of Anaran oil deposits. In 2011 Lukoil left the project due to the introduction of sanctions on Iran.

In April 2015 the company again opened its representation in Iran.