Iran and Brazil sign accord to study construction of 300,000 b/d new refinery in Latin America

Iran and Brazil have signed a preliminary accord to build a new oil refinery in Latin America, according to information provided by Iran’s deputy oil minister on May 17, according to multiple wire services from Iran.



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“If a final agreement is reached between the two countries, they will build the new Latin American refinery,” Abbas Kazemi, who is also managing director of the Iranian state oil company, was quoted as saying. The refinery would process Iranian crude, he said.

It is not the only plan of Iran's governemnt  to build a refinery abroad. It also has plans to jointly build with Indian partnershp a refinery in that country with 400,000 b/d of crude running capacity, according to the report.

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