Irans crude oil will be exported to South America.
Based on an incoming report, Ecuador is eager to build refinery in the Islamic Republic of Iran and is ready for purchase of crude oil from the country.
Over recent months, certain Latin American states have voiced their willingness for cooperation with Iran in the oil industry.
On this basis, talks are underway for establishment of a refinery in Brazil with the capacity of 300,000 barrels of oil and all the crude oil required for the refining will be provided by Iran.
Speaking after a meeting with Ecuadorian Deputy Minister for strategic sectors, Anjolina Toral, on Monday, Iranian Deputy Petroeum Minister for international and commercial affairs Amir-Hossein Zamani-Nia said that Iran and Ecuador will launch their joint energy commission as the Latin American country is interested in Iran’s partnership in construction of refinery.
Zamani-Nia said both countries are ready to expand their relations in oil and gas industry.
The Iranian deputy minister also said that China is to finance plans for expansion of Ecuador’s refining capacity.
“The petroleum ministry has announced its readiness for construction of refinery, export of crude oil and petrochemical products to Ecuador,” he said, adding that the joint energy commission will be established through diplomatic channels.
Source: IRNA- Date: (1 February 2016)