Russia's LUKoil Holding Talks With Iran on Petroleum Products' Deliveries

Russia’s LUKoil is conducting negotiations with Iran on the deliveries of petroleum products, the company’s vice president, Vladimir Nekrasov, said Tuesday.

BUDENNOVSK (Sputnik) –  The Russian oil company reenergized talks with Tehran in the summer 2015 on resuming oil cooperation in anticipation of Iran’s return to the global market in 2016. Iran made a comeback after it had proved that its nuclear program complied with the regulations of the International Atomic Energy Agency.

“We plan to import petroleum products to Iran first. As much as we can. We have a terminal in Astrakhan [on the Caspian Sea] with a capacity of 2 million tons,” Nekrasov told journalists.

“We are currently holding talks on deliveries, and as soon as it’s contracted, we’ll deliver,” he added.