Iran, Spain launch new oil talks

TEHRAN, Apr. 16 (MNA) – Iran and Spain’s Barcelona oil company have initiated fresh round of negotiations to ink deals on petrochemical products.

Barcelona of Spain marks a newly-emerged company in Iran’s oil industry seeking to sign new oil and petrochemical contracts.

Accordingly, a delegation of the Spanish company has travelled to Tehran to conduct negotiations on purchasing certain petrochemical and polymer products from Iran.

Majid Baten, Director of International Affairs at Petrochemical Industry Association of Employers, noted that Barcelona Oil Company is after signing a contract to buy some of the light and heavy grades of polyethylene, polypropylene and polypropylene from Iranian petrochemical companies; “final talks will soon be held between some Iranian companies and the Spanish firm.”

Earlier this year, National Iranian Oil Company (NIOC) and Barcelona Oil Company of Spain sealed an agreement on a joint geological and geophysical exploration study.

“The study area covers the southern part of the Zagros sedimentary basin located in Hormozgan Province,” Head of NIOC Oil and Gas Exploration Hormoz Ghalavand had noted following the signing of the first contract with the European company in January 2016.

He had also highlighted that “the joint physical phase is 55 per cent through and the costs which mount to two million euros will be financed by the foreign side.”

 

HA/3599475

 

News Code 115842

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