Iran To Build Own Refineries In Foreign Countries

Iran has signed two contracts to build oil refineries for itself in foreign countries, an MP said.

Speaking to Tasnim, member of the Iranian Parliament’s Energy Commission Parviz Mohammadnejad said the lawmakers have repeatedly recommended that the Oil Ministry should take swift action to attract foreign investment and construct “extraterritorial refineries”.

He said two contracts have been signed so far to set up refineries in other countries.

The MP noted that constructing refineries outside Iran will improve the country’s international relations in the energy sector and help Tehran generate a high and sustainable currency income.

The construction of extraterritorial refineries has many advantages, as it would allow for easier access to the customers without any barrier, Mohammadnejad noted.

“Venezuela has many refineries which require our country’s up-to-date knowhow and technology. We can take advantage of such a capacity to achieve our purposes in and outside the region. We can have access to the customers without paying additional costs in this way, because the extra and additional expenses for the export of oil are very high at present,” he added.

During a visit to Tehran in June, President of Venezuela Nicolas Maduro and the oil minister of Iran weighed plans to strengthen cooperation between the two countries in various fields relating to the energy, oil and petrochemical industries.

They made a series of decisions about the export of technical and engineering services, renovation and reconstruction of refineries, and the development of oil and gas fields.

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