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Caspian Oil Replaces Libyan

MILAN, Italy — Italy's No. 3 oil refiner Saras is looking to Russia, Iran and other Caspian countries to replace crude oil shipments from Libya that have virtually halted amid growing turmoil, its general manager Dario Scaffardi said Friday.

"Saras is looking at Kazakhstan, Azerbaijan, Russia, West Africa, Algeria and the North Sea for possible sweet crude replacements for Libyan oil," Scaffardi said.

Saudi Arabia is not an alternative to Libya since its crude is not sweet, he said, adding, however, that the company had slightly increased its sour oil shipments from Iran.

(Reuters)

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