Select Energy Trading


"Iran acknowledged on Saturday that oil swap deals with Caspian Sea producers had stopped, but said it was seeking talks with some oil companies on new terms.  Industry sources said in May that producers would suspend oil swaps with Iran from June 1 after Tehran steeply raised fees on operations to avoid an oil glut following lower sales of its own crude. They said Iran had deliberately made it uneconomic... Mehr named four firms it said had shown lack of interest in renewing swaps: Dragon Oil, Vitol, Select Energy Trading and Caspian Oil Development." (Reuters, "Iran says wants to renegotiate Caspian oil swaps," 6/19/10)