News ID: 3743954 -

Iran, Indonesia ink new oil deal

TEHRAN, Aug. 17 (MNA) – An MoU on petrochemical cooperation has been signed between Iran’s Petrochemical Commercial Company (PCC) and Pertamina Corporation of Indonesia.

Officials at Iran’s PCC met and talked with a delegation of Pertamina in Tehran exchanging views on bilateral collaboration in petrochemical industry.

The joint meeting inked a Memorandum of Understanding (MoU) upon which the Indonesian side agreed to directly import Liquefied Petroleum Gas (LPG), polymers, gas condensate and bitumen from PCC.

Petrochemical Commercial Company also agreed to purchase aromatics from Pertamina, which is an Indonesian state-owned oil and natural gas corporation based in Jakarta.

On the basis of the newly-signed agreement, an executive team comprising representatives of both parties will be formed to make plans for expansion of commercial activities in addition to taking necessary measures required for implementing the reached agreements.

Speaking during the MoU signing ceremony, PCC Managing Director Mehdi Sharifi Niknafas, while introducing capabilities, facilities and trade background of the Iranian company, underlined the status its foreign branches and bureaus.

Niknafas further expressed PCC’s readiness to reinvigorate its commercial activities worldwide.

In recent weeks, Iran and Indonesia have also reached agreements over exports of Iranian crude as well as the East Asian country’s partnership in upstream section of Iran’s oil industry.

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