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South Africa signs draft deal for oil imports from Iran

by ChemOrbis Editorial Team - content@chemorbis.com
  • 16/09/2015 (15:42)
According to media reports, South Africa has reached a draft agreement with Iran in order to import oil once sanctions are lifted. The National Iranian Oil Company’s director for international affairs, Mohsen Ghamsari, has reportedly said that South Africa probably will be Iran’s first new trade partner in the post-sanctions period.

Previously, Iranian Oil Minister Bijan Zanganeh had stated that Iran is planning to raise its oil production by 500,000 barrels per day (bpd) as soon as sanctions are removed and by 1 million bdp within a few months of the removal of sanctions.
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