Iran plans Joint Oil Refinery in Spain

By John Lee.

Deputy Minister of Petroleum, Abbas Kazemi (pictured), has said that Iran would have a 50-percent participation in constructing a refinery in Spain, if the country’s crude oil is totally being supplied by Iran.

He told IRNA that Brazil and Spain have voiced the willingness to cooperate with Iran in building oil refineries.

Once the contract is finalized and Iran makes 50-percent investment in Spain and Brazil, they would buy all of their required crude oil from Iran,” he added.

He added that a consortium will be formed with Iran’s private sector to invest in oil refineries.

(Source: IRNA)

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