South African oil firms to meet Iranians to discuss crude imports - CNBC Africa

South African oil firms to meet Iranians to discuss crude imports

Southern Africa

by Reuters 0

South African oil companies will meet Iranian officials in October to discuss the resumption of crude imports. Photo: Flickr

South African oil companies will meet Iranian officials in October to discuss the resumption of crude imports, the deputy energy minister said on Thursday.

International sanctions on Iran could start to be lifted as early as spring next year as Tehran and the West rebuild their ties and potentially open up billions of dollars of trade deals.

Iran was once the biggest oil supplier to South Africa, exporting around 380,000 barrels per day that powered up the continent's most advanced economy.

"There is a visit that has already been scheduled for them to come to South Africa in October and they will get the opportunity to speak to the oil companies," told Reuters.

Majola also said in a telephone interview that South Africa was planning to build a crude oil refinery, which would use Iranian crude, to add to the existing PetroSA's gas-to-liquid plant in Mossel Bay.

"We are looking to build a refinery and we had already began these kinds of discussion in terms of having a partnership," she said, adding state-owned PetroSA had agreed to help Tehran build a gas-to-liquid refinery.

Comments