Minister of Petroleum Bijan Namdar Zangeneh told Iranian student news portal ISNA that both sides were ready to sign a deal, following a meeting with his Russian counterpart, Alexander Novak.
Payment for the crude will be made half in cash and half in goods and services.
The announcement came a day after a Russian official said his country was targeting a deal for the import of gas turbines from Iran in a bid to evade EU sanctions.
The turbines would be destined for power plants in Crimea, where Russia is building two newbuild power plants with a combined capacity of 940 MW.
The news on Russian crude purchases also follows a recent confirmation that Beloil Polska, a subsidiary of state-owned Belorusneft, will take on 600,000 barrels of Iranian crude, to be loaded in February.
The National Iranian Oil Company announced the deal in a press release on February 18.
Belarus is reportedly seeking to diversify its crude sources away from dependence on Russia.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.