News ID: 188772
Published: 0654 GMT March 05, 2017

Zanganeh: Iran ready to ship 100,000 bpd crude to South Africa

Zanganeh: Iran ready to ship 100,000 bpd crude to South Africa

Iran is ready to send 100,000 barrels of crude oil per day to South Africa as well as to purchase refinery shares in that country, said Oil Minister Bijan Namdar Zanganeh.

Zanganeh made the remarks during a meeting with visiting South African Energy Minister Tina Joemat-Pettersson, Mehr News Agency reported.

"In addition to oil exports, talks were also held with the South African side on implementing gas to liquid (GTL) projects," said the Iranian minister adding that in recent years disputes over gas prices have prevented GTL talks from yielding results.

The minister further elaborated on Iran's plan to purchase shares of South African refineries, asserting, "The purchase plan is aimed at guaranteeing long-term oil exports to the country."

Iran's state oil companies such as National Iranian Oil Company and National Iranian Oil Refining and Distribution Company should not be involved in the deals, he said, adding that the private sector, with the help of Iran's National Development Fund, could participate in the purchase of refinery shares.

Zanganeh said that in the present circumstances, Iran has no problem for marketing and sales of crude oil and the demand for Iranian crude is high in the market.

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