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News 2011

Vitol

 Trader Vitol has renewed deliveries of the Kazakhstan oil to Iran under the substitution scheme after more than a year break. The party of 4.7 thousand tons was sent from the Kazakhstan port of Aktau to Iranian Neka via the Bakikhanov tanker on October 11, writes Argus. In early June, Vitol has signed a six-month prolonged contract with Iranian Nico according to which since July the trader is shipping 30-35 000 tons of Okarem oil a month to Iran from Turkmenia.

Prior to the termination of deliveries from Kazakhstan to Iran in May of 2010, Vitol exported 80-110 000 tons of oil a month in this direction. Shipments were suspended because of deterioration of economic conditions as a result of toughened international sanctions in regard to Iran. In January-June 2010, the deliveries of the Caspian oil to Neka comprised 1.3 million tons compared with 4.1 million tons in 2009 and 3.6 million tons in 2008, informs Trans-port.com.ua.