Describing the conducted negotiations with Brazil, Managing Director of National Iranian Oil Refining and Distribution Company (NIORDC) Abbas Kazemi said “one of the country’s major oil policies for the post-sanction period is to construct or purchase shares of foreign oil refineries.”
“Possession of stock or property of oil refineries in other countries will provide long-term export security for Iranian crude oil,” noted Kazemi asserting “hence we had numerous negotiations with a major oil company in Brazil to build refineries in the South American country.”
NIORDC managing director further emphasized that “an investor in Brazil has announced readiness to establish an oil refinery guaranteeing that all the required oil will be supplied by Iran; “it has been agreed that the private sector in Brazil will make 50 per cent of the investment while the remaining portion will be carried out by Iran.”
