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Tuesday, February 7, 2023

Iran to build refinery, oil depots in Sierra Leone

HomeAYV NewsIran to build refinery, oil depots in Sierra Leone

Iran to build refinery, oil depots in Sierra Leone

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It is planed that Tehran also to construct a refinery in the country at the next stage, the Iranian official said, Fars news agency reported.
The Islamic Republic has held several talks with some European, US, Asian and African countries to build and purchase refineries, Sajedi said.

It is planed that the constructed refineries to be conformed to Iranian crude oil specifications, in order to refine Iran’s oil.
Iran also plans to buy share of refineries abroad to safeguard its crude oil export, Sajedi said, adding so far various negotiations were held with Brazil, South Africa, Indonesia, Malaysia and India on the issue.

Both sides will benefit from the cooperation as the target countries will guarantee their energy security and Iran would ensure its access to oil markets for a long period, Kazinform refers to Trend.az.

The Islamic Republic’s Deputy Oil Minister Abbas Kazemi earlier said that Iran follows the idea of constructing refineries abroad.
Constructing refineries abroad with participation of international investors will safeguard Iran ‘s oil export for a long period of at least 20-25 years, he underlined.

Tehran can count on stable consumers for decades by building refineries in foreign countries, Kazemi said.
By holding 157 billion barrels of recoverable crude oil reserves, Iran possesses the world’s fourth largest reserves of crude oil.
Iran’s current oil production is estimated to be around 2.8 million barrels per day of which about one million barrels are exported.

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