Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Iran Oil Swap Proposed

ALMATY, Kazakhstan () -- Landlocked Kazakhstan, keen to boost its crude oil exports, said Monday it wanted to arrange crude oil swap deals with Iran.

Under such deals, Kazakhstan would deliver its Tengiz crude oil into northern Iran, where it would be refined for local use, in return for oil from southern Iran. Kazakh oil minister Nurlan Balgimbayev told an industry conference he would visit Tehran this month to discuss the oil swaps for crude from Kazakhstan's Tengiz field.