Kazakhstan plans to swap more oil to Iran

The minister has said that Astana intends to expand routes for oil exports to Iran and China.

The report said that under a swap procedure, Iran will take delivery of Kazakhstan’s oil shipments at its northern ports where they will be sent to Iranian refineries in Tehran and Tabriz. The country will then deliver the same amount of oil to oil tankers in the Persian Gulf.  

Kazakhstan sends nearly 80% of its oil shipments to Russian ports in the Black Sea based on the Caspian Pipeline Consortium.

Last summer, Kazakhstan’s President Kassym-Jomart Tokayev called for diversifying the country’s oil supplies in response to the current geopolitical situation of the region.

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