Iran Oil Terminals Handling Capacity at 28mb/d
The Iranian Oil Terminals Company (IOTC) is a strategic subsidiary of National Iranian Oil Company (NIOC). It is tasked with storage, measurement as well as import and export of crude oil, petroleum products and gas condensate, as well as offshore services.
The IOTC is also managing crude oil swap operations which recently resumed in northern Iran after a hiatus.
Pirouz Mousavi, CEO of IOTC, says the company has handled 1.8 million barrels of crude oil within the framework of swap operation since the project was resumed. He told "Iran Petroleum" that this capacity was expected to rise in the future.
Here is the full text of the interview Mousavi gave to Iran Petroleum.
Q: Thanks to the Iranian Ministry of Petroleum's efforts, crude oil swap operations recently resumed in northern Iran. How much is our current capacity in this sector?
A: Fortunately, several developments have happened with regard to swap operations with the Caspian Sea littoral states since August, and 1.8 million barrels of oil has since been shipped from Central Asian countries to refineries in Tabriz and Tehran in more than 36 cargoes. The equivalent amount has been delivered to foreign buyers in Kharg Island. I have to recall that swap operations in the north of the country are carried out via Neka terminal, which is equipped with state-of-the-art technology, technologically advanced labs and skilled workforce. It can handle 1.5 million barrels of oil. Refineries receiving crude oil have so far expressed satisfaction with the quality of the oil. The relaunch of oil swap with the Caspian Sea littoral states is another achievement of the Joint Comprehensive Plan of Action (JCPOA).
Q: Given potentialities you just mentioned, do you think we may witness enhanced oil swap capacity between Iran and Central Asia in the near future?
A: Yes, at the moment Iran has capacity to receive 200,000 b/d of crude oil from Central Asian countries. It currently receives around 50,000 b/d. NIOC and Iran's Foreign Affairs Ministry are in talks with foreign parties to increase the volume of swap operations. Oil swap with Turkmenistan is currently under way. Kazakhstan, Russia and Azerbaijan will soon join this country. Given the serious talks under way by Iran's Ministry of Foreign Affairs and Ministry of Petroleum with foreign parties, I think that we will soon witness significant increase in swap.
Q: Crude oil swap with the Caspian Sea littoral states was halted during years of sanctions for unspecified reasons. How much do you think Iran lost in this issue?
A: It happened exactly in 2010. The decision by Iran to halt swap under those circumstances was an erroneous and unplanned one. It was adopted only based on several reports. Iran has since then suffered many losses in terms of foreign interactions, Caspian Sea security and economy. In other words, this improper decision put in peril Iran's national interests. Meantime, we should not forget a $500-million investment plus 150-strong manpower of Neka terminal who lost their jobs during those years.
Q: What are your plans with regard to increasing the capacity of receiving crude oil from the Caspian Sea states?
A: According to plans, a project has been envisaged to handle more than 500,000 b/d of oil. This project is planned to be built on 300 ha of land in the form of