“Negotiations have been initialized to purchase a portion of the Essar Company’s share in India”, the Deputy Minister of Petroleum Abbas Kazemi announced.
Expressing the share purchasing of giant refinery companies as a policy for Iran after sanction-release, he added: “Recent talks have been conducted with a number of European, South American and Asian Companies in this regard”.
Abbas Kazemi, the National Iranian Oil Refining and Distribution Company (NIORDC) C.E.O, referred to securing the request for Iran’s crude oil in long term at international market as one of the most important reasons for making a purchase of foreign refining companies stock shares. “National Iranian Oil Company (NIOC) is going to invest on the refineries where Iran’s crude oil is refined. This action will be cost-effective”, he continued.