Malaysia’s fully integrated petroleum corporation, Petronas, on Wednesday announced that it will purchase oil from Iran after three years of gap in cooperation with the country.
Petronas President & CEO, Wan Zulkiflee Wan Ariffin, said on Wednesday that each barrel of oil can be sold for about 30 dollars on the market when sanctions against Iran are lifted.
He said Petronas stopped importing crude oil from Iran in 2012 but it will consider purchase of oil from the Middle Eastern country when sanctions are lifted.
The official, who was present in ceremonies to unveil the Iran Petroleum Contract (IPC) in Tehran in November, said his company is eager to cooperate with National Iranian Oil Company.
National Iranian South Oil Company, affiliated to the NIOC, and Malaysian Petronas held a joint seminar in Tehran in October.