Iran Considers Stakes in Refineries in Other Countries

Iran holds a stake in a refinery project in Malaysia and is considering taking stakes in projects in five other countries, the managing director of the National Iranian Oil Engineering and Construction Company (NIOEC) was quoted as saying on February 8.

Hamid Sharif Razi said the NIOEC holds a 30 percent stake in a 250,000 barrel a day refinery project in Malaysia, and was planning to take a 40 percent stake in a 300,000 barrel a day refinery in Indonesia, according to the Shana news agency.

The NIOEC is also in talks with South Africa, Sierra Leone, Brazil and India, he said, adding the purpose of the projects was to guarantee Iranian crude exports and, if necessary, a source of product imports.