Indonesia eyes long-term Iran oil deal


 Last month, Said met Minister of Oil Bijan Zangeneh in Tehran to discuss crude supplies from Iran.

Indonesia says it plans to use existing exceptions which allow Iran to export around 1 million barrels per day of oil under a preliminary nuclear agreement to import crude.

An Iranian delegation will reportedly visit Indonesia this month to discuss payment mechanisms.

Indonesia is building four refineries, each with capacities ranging between 300,000 bpd and 350,000 bpd, to cut its dependency on oil product imports.

The country also seeks to return to OPEC which was expected to examine the request Friday in a meeting in Vienna.  

Zangeneh said he would welcome Indonesia’s return to the Organization of Petroleum Exporting Countries. Jakarta is rejoining OPEC seven years after it quit the group because it barely had any oil to export.

ME

Source Article from http://english.irib.ir/news/economy/item/210739-indonesia-eyes-long-term-iran-oil-deal

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