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Iran to purchase shares of South Africa refineries

Xinhua, March 5, 2017 Adjust font size:

Iran's Petroleum Minister said Saturday that Iran is ready to purchase shares of the refineries in South Africa, official IRNA news agency reported.

The minister, Bijan Namdar Zanganeh, made the remarks on the sidelines of a meeting with the visiting South African Energy Minister Tina Joemat-Pettersson.

The purchase plan is aimed at guaranteeing long-term oil exports to the country, he was quoted as saying.

Iran's state oil companies should not be involved in the deals, he said, adding that private sector, with the help of Iran's National Development Fund, could participate in the purchase of the refinery shares. Endit