Iran General NewsIran to expand Senegal refinery, sell it oil

Iran to expand Senegal refinery, sell it oil

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Reuters: Iran’s national oil company will take a stake in Senegal’s state-owned refinery and sell the West African country a year’s supply of crude oil on preferential credit terms, Senegal’s energy ministry said. DAKAR (Reuters) – Iran’s national oil company will take a stake in Senegal’s state-owned refinery and sell the West African country a year’s supply of crude oil on preferential credit terms, Senegal’s energy ministry said.

The announcement, in a communique received by Reuters on Tuesday, follows a visit by Senegalese Energy Minister Samuel Sarr to Tehran in mid-August to discuss oil projects which the ministry said included increasing the capacity of Senegal’s state refiner to 3 million tonnes a year from 1.2 million.

Under a deal signed in Tehran, the National Iranian Oil, Refining and Distribution Company (NIORDC) would acquire an unspecified shareholding in Senegal’s state oil refiner Societe Africaine de Raffinage (SAR), the ministry said.

“The same draft agreement also covers one year’s supply by the Iranian party of crude oil to SAR, with a beneficial three-month delay on payment,” it said.

Senegal’s government said in early August that Iran would build an oil refinery and petrochemicals plant in the West African country.

It also said Iran would speed up plans by Iran Khodro, the Middle East’s biggest car maker, to construct an $80 million car assembly plant to produce its Samand cars.

The former French colony has increasingly courted Islamic and Middle Eastern infrastructure investment as it prepares to host a summit of the Organisation of the Islamic Conference next year.

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