News ID: 117074
Published: 0318 GMT May 02, 2015

South Africa keen on oil cooperation with Iran

South Africa keen on oil cooperation with Iran

An Iranian Petroleum Ministry official says South Africa seeks to ink memorandums of understanding (MoUs) with the Islamic Republic in different energy sectors.

Mohsen Qamsari, the director of the international affairs of the National Iranian Oil Company (NIOC) says South Africa is “after purchasing oil products, gas, crude oil and petrochemicals as well as participating in [such] projects.”

The oil official added that South Africa needs Iranian crude for its Engen Refinery, SHANA reported Saturday, Press TV said.

His comments follow the Tuesday meeting of Iran’s Petroleum Minister and South Africa’s Energy Minister in Tehran, where the senior officials discussed bilateral energy cooperation following the possible removal of anti-Iran sanctions.

South Africa was for long a traditional customer of Iranian oil and used to buy a daily volume of nearly 70,000 barrels of crude before the early 2012 sanctions.

The sanctions were imposed by the US and EU claiming that there is a military aspect to Iran's nuclear program; an allegation Iran categorically rejected.

The Islamic Republic and the P5+1 group of countries – the US, the UK, France, Germany, Russia and China – reached an interim agreement on Iran’s nuclear program in the Swiss city of Geneva last November, which led to relative loosening of sanctions against Iran, paving the way for further cooperation in various economic fields, especially in energy sector, between Tehran and other countries.

Last month, following the Lausanne understanding in Switzerland again, Iran's oil industry officials said international companies have voiced interest in taking up projects in the country’s oil industry.

   
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