Tehran, Beijing in New Round of Oil Talks

Source:

"China's ready to partake in gasoline-production projects in Iran."

The Iranian deputy oil minister said that new rounds of talks have started between Iran and China.

Alireza Zeighami stated that Chinese firms have proclaimed their readiness to partake in gasoline production projects in Iran and received some offers for financing oil refineries in the country.

The Mehr News Agency quoted the Iranian official as saying that Chinese companies are currently cooperating in Shazand refinery in Arak and arrangements are being made for them to participate in other oil refining projects throughout the country.

On November 25, 2009 China agreed to invest $6.5 billion in Iran refineries, Press TV reported.

"The National Iranian Oil Refining and Distribution Company (NIORDC) and China's Sinopec Corp signed a memorandum of understanding for providing $6.5 billion finance for the development and construction of the Iranian oil refineries," a report by Mehr news agency said.

Chinese companies are greatly expanding their presence in Iran's oil refinery sector, embarking on a construction spree that would increase Iran's refinery output.

Related Articles

Get Our Streetwise Reports Newsletter Free

A valid email address is required to subscribe