Iran signs new oil contracts, MoUs with Chinese companies

Javad Owji made the remarks on the sidelines of the opening ceremony of the 16-inch Torbat-e- Jam transmission line project in the Khorasan Razavi province in the northeast adding that “We have defined various projects with the Chinese and have had good contracts and agreements with large Chinese companies which will be announced in the near future. “

“We have very good news for the people regarding the conclusion of new contracts and memorandums, which will be announced one by one”, he further pointed out.

Stating that in the field of petrol, Iran has traded with the neighboring countries, the Iranian Oil Minister continued that with the measures of refineries and handling of consumption rate, all internal needs are with domestic production.

Elsewhere in his remarks, Owji said although Iran witnessed a very difficult winter, the gas supplies continued without cuts through proper planning, adding that there will be no increase in gasoline prices next year.

“We will not have any price increase in gasoline and petrol next year, and this issue has neither been raised in the government’s budget bill nor in the parliament’s negotiations,” the oil minister further said.

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