Jun 21, 2016, 10:46 AM
Tehran, Cairo resume oil trade

TEHRAN, Jun. 21 (MNA) – An official, while describing new oil talks with Egyptians, reported on the resumption of Iran’s liquefied gas exports to the Middle Eastern country.

Following the permit issued by Egypt for Iran to transfer crude oil to European countries through SuMed pipeline, the exports of Iranian liquefied gas was also recommenced.

Deputy Director of Iran’s Petrochemical Employers Association Parviz Sahafzadeh said the D-8 specialized working group for petrochemical industry convened in the Egyptian capital of Cairo; “an Iranian delegation attended the session to hold talks and exchange views with the other seven member states at D-8 Organization for Economic Cooperation (Developing-8).”

“At the end of the meeting, Iran’s presidency at the working group for petrochemical industry was extended,” noted the official asserting “several talks were held on the sidelines of the session with member countries like Egypt, Turkey, Malaysia, Indonesia, Bangladesh, Pakistan and Nigeria.”

Sahafzadeh emphasized that some Egyptian firms are after importing Iranian petrochemical or polymeric products; “given the sanction removal and entry to post-sanction era, the grounds have been provided to expand trade volume between Iran and Egypt particularly in the field of petchem exports.”

“A list of petrochemical items required by Egypt has been delivered to Iranian petrochemical companies,” underscored the official estimating that further negotiations in near future will lead to signing of agreements for sales of various petrochemicals.

He also pointed out that certain Iranian firms would deploy liquefied gas to Egypt before the imposition of sanctions against the country stating “single shipments are currently being deployed to Egypt by an Iranian firm while more products will soon be exported to the Middle Eastern country.”

Deputy Director of Iran’s Petrochemical Employers Association outlined D-8 member countries as a good capacity for revival of ties with Egypt in the field of petrochemical industries reiterating “Iran’s investment opportunities were introduced at the Cairo meeting as no limitations are perceived on joint venture between the two sides.”

Deputy Oil Minister for International Affairs Amir Hossein Zamaninia has recently voiced Iran’s readiness to sell crude and oil products to Egypt expressing hope that expansion of oil trade will promote political and international ties between Egypt and the Islamic Republic of Iran.






News Code 117515


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