The Iranian Oil Ministry is taking the necessary measures to exchange crude oil and gas condensate for raw materials, equipment or investments to complete the receipt of semi-finished products from the oil industry, stated the Iranian Oil Minister Javad Oji.
He noted that, considering the domestic potential and identified foreign trade partners, good news is just around the corner in the field of oil and commodity barter trading.
“Since the global demand for energy is growing by six to seven percent, and the coronavirus is under control, it is expected that the world demand for energy will increase,” – quotes the minister “IRAN.ru”.
The ministry is also considering the possibility of exchanging crude oil and condensate for investment in projects. According to him, there are many construction projects in the country that have remained unfinished for several years. “We are trying to finance projects through oil and condensate barter trading,” added Oji.
