Iran finances oil projects due to barter oil

The Ministry of Oil Iran takes the necessary measures to exchange crude oil and gas condensate on raw materials, equipment or investments to complete the production of semi-finished products of the oil industry. This was stated by Minister of Oil Iran Javad Odi.

Oji noted that, given the internal potential and identified foreign trade partners, the good news is no longer outside the corner in the field of barter trade in oil and commodity goods, Iranian media report.

“Since the global energy demand is growing for six to seven percent, and Coronavirus is controlled, it is expected that the world energy needs will increase,” said Oji, noting that the ministry also considers the possibility of raw oil and condensate for investment in projects.