Iran is planning a 50 per cent co-operation in the construction of a refinery in Spain, according to a report.
Under the contract, Iran will make the 50 per cent investment, and Spain will buy all its required crude oil from the republic, Deputy Oil Minister Abbas Kazemi, was quoted as saying in the Iran Daily report.
A consortium will be established by Iranian private sector for investment in oil refineries, he said.
Meanwhile, Iran plans to build or buy refineries in other countries to guarantee long-term sales of its crude oil, the report added.
Source : tradearabia.com