Iran to supply crude oil to Senegal

Iran, the Organization of Petroleum Exporting Countries' number-two crude producer, has pledged to supply oil to Senegal for a year, and plans to pick up more than a 34-percent stake in Senegal's oil refining firm, the energy ministry said.

Iran to supply crude oil to Senegal
Iran, the Organization of Petroleum Exporting Countries' number-two crude producer, has pledged to supply oil to Senegal for a year, and plans to pick up more than a 34-percent stake in Senegal's oil refining firm, the energy ministry said Monday.

The agreement was inked between the two nations during a working visit to Tehran by Senegal's energy minister Samuel Sarr, a source in his ministry said.

It envisages the "supply of Iranian crude oil for a year to the African Refining Company [SAR]," in which the state holds a majority share, the source said.

The source said the National Iranian Oil Refining and Distribution Company planned to pick up more than a 34-percent share in SAR in the course of this year.

No details were given about the quantity of oil to be supplied.

Iran has steadily stepped up investments in the West African nation.

Iran's gas reserves are estimated to be the second-largest proven reserves in the world after Russia.

AFP
Last Mod: 28 Ağustos 2007, 12:08
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