Iran to buy, build foreign oil refineries

Iran to buy, build foreign oil refineries

Iran to buy, build foreign oil refineries

 

 
“So far, Iran has made some negotiations with Brazil, South Africa, Malaysia, Indonesia and India in order to buy shares in foreign countries’ oil refineries,” Mir Ali Asghar Sajedi, Managing Director of National Iranian Oil Engineering and Construction Company (NIOEC), told the reporters.
 
Sajedi emphasized that buying shares in foreign oil refineries aims to ensure sale of the Iranian crude in the long run; “in other words, these investments will guarantee marketing of Iranian crude in different parts of the world for the next 20 to 25 years.”
 
The official deemed manufacturing and supply of petroleum products as another advantage of buying refinery shares in different countries; “with the construction of the refineries and production of several petrochemicals like gasoline and gas, we can import them to meet domestic needs or export them to target markets,” he noted.
 
Sajedi further explained the conducted talks with authorities of Sierra Leone on building an oil refinery adding “in the first phase of negotiations, basic agreement was reached to build an oil depot in the African country.”

 

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