Taiwan to increase oil imports from Iran

Taiwan’s refiners will increase crude imports from Iran this year, paving the way for the sanctions-hit OPEC producer to regain its market share in Asia, company spokesmen said on Monday. The companies are likely to be among the first in Asia to restart trade relations with Iran after the lifting…

Iran, Egypt resume trade ties: Report

Iran’s first cargo of petrochemical products in recent years has left for Egypt, marking the resumption of trade ties between the two major Muslim countries, the Mehr news agency says. Intensified sanctions imposed on Iran in 2012 put a stop on the last remaining channel of connectivity with Egypt in…

Petronas to resume cooperation with Iran

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…

Iran to invest in oil refinery in Spain

Deputy Petroleum Minister and Managing Director of National Iranian Oil Refining and Distribution Company (NIORDC) Abbas Kazemi said on Saturday that Iran is to invest in construction of an oil refinery in Spain with the capacity of refining 200,000 barrels of oil per day. Kazemi told IRNA that the project…