Russia’s Lukoil is negotiating with Iranian authorities on the supply of Iranian crude oil to refineries in Romania, Bulgaria and Italy, daily Kommersant informs, quoting Lukoil’s Vice President Vladimir Nekrasov.
If talks are successful, the ‘oil exchange’ could start as early as this year.
The increase of excise duties in Russia might make it less profitable for Lukoil or other companies to make oil products, Kommersant has noted.
Russia’s Petrotel Lukoil refinery in Romania processes 2.4 million tons of gasoline and diesel annually.
Reports come as Iran is working toward a strong return to the global markets, after the international community agreed to lift the sanctions imposed on it over its controversial nuclear program.