Iran, India begin oil negotiations

TEHRAN, Nov. 17 (MNA) – Iran's deputy oil minister said that negotiations are conducted for purchasing a part of stakes in Essar Oil refinery in India.

Abbass Kazemi said that in the post-sanctions era, Iran tends to buy overseas oil refineries or shares of grand oil refineries. Accordingly Iran recently conducted negotiations with Asian and European and South American refineries to purchase their shares or refineries.

National Iranian Oil Company tends to invest in refineries which will refine Iran’s crude oil, he noted.

Moreover Rokneddin Javadi, the managing director of the National Iranian Oil Company confirmed the talks with European and Asian and even African companies. He said that Iran’s crude oil should be sent to markets which hold credible and long-term clients.

Currently India’s Essar and Mangalore Refineries as well as Indian Oil Corp are among the big clients of crude oil in Asia and even the world and Essar is the biggest client of Iran’s crude oil.

 

PH/2968835

 

News Code 112045

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