Iran eyes up Indian oil refineries in bid to secure exports

Iranian Oil Minister Bijan Namdar ZanganehIran would be interested in developing  Indian oil refineries as a means of ensuring the sale of its crude oil in the sub-continent, its Minister of Petroleum Bijan Zangeneh told an Iran-India business conference that was held at the Tehran Chamber of Commerce over the weekend.
 
“Financially speaking, Iran is a country that seeks foreign investments rather than being an investing country itself, but it has to take some measures to enhance its [crude oil] exports,” he said. “Indian companies are skilled in petroleum engineering and meet international standards in their works; therefore, Iranian companies may take this opportunity to boost their cooperation [with their Indian opposite numbers],” he said. 
With Iran in need of petroleum industry and machinery, there was also potential for Indian and Iranian companies to cooperate in their manufacture for sale in both domestic and export markets, he added.