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    Iranian oil workers work at the Tehran's oil refinery south of the capital Tehran, Iran, Monday, Dec. 22, 2014

    Going Global: Iran Eyes Joining Oil Projects in Six Countries

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    The National Iranian Oil Engineering and Construction Company (NIOEC) has started talks with six countries on buying shares and building refining facilities.

    The talks involve Malaysia, Indonesia, South Africa, Sierra Leone, Brazil and India, managing director Hamid Sharif Razi was quoted as saying by Shana agency.

    Currently, NIOEC owns 30 percent of shares in an oil refining project in Malaysia, with a capacity of 20,000 barrels a day. In addition, the company is eyeing to buy 40 percent of shares in a refinery in Indonesia, with a daily capacity of 300,000 barrels.

    According to Razi, the cooperation is aimed to provide sales of Iranian-produced oil and to buy oil products if needed.

    It was earlier reported that Tehran is building energy cooperation with European oil and gas majors, including France’s Total and Italy’s Eni.

    The National Iranian Oil Company (NIOC) will soon finalize a deal with Total to sell 160,000 barrels of crude daily to the company.

    Currently, Iran is exporting 300,000 barrels a day to Europe, its major energy partner.

    After sanctions against Iran were removed on January 16, Iran has come back to the global energy market, with an estimated 500,000 barrels a day expected to be added to the market.

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    Tags:
    cooperation, oil market, energy, Iran
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