Iran: Upgrade of Refineries Iran and China to Sign $ 3 Billion Contract

Editor: Alexander Stark

Downstreamtoday reports that Iran and China will sing a $ 3 billion contract next month to upgrade Iran's oil refining capacity.

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(Source: Process India)

Teheran/Iran — Iran's deputy oil minister Abbas Kazemi said in Tehran on Tuesday that the deal will focus on upgrading the Abadan oil refinery, Downstreamtoday cites Iran's Mehr News agency.

"Last week, China officially opened the financing for the plan to fix and improve the quality of the Abadan refinery," Mehr quoted Kazemi as saying. The deal is expected to be signed when a delegation of Chinese oil officials visit Tehran next month, Kazemi said, according to Mehr News.