Iran plans to invest in a refinery in Spain

Market news

11 January 2016

Iran plans to invest in a refinery in Spain

Iran plans to invest in a refinery in Spain. The refinery would help to access the European market once the sanctions are lift off.

Abbas Kazemi, the head of the state-run National Iranian Oil Refining and Distribution Co., said over the weekend that Iran plans to invest in refineries abroad to boost oil exports.

"The petroleum ministry wants to invest in refineries abroad, whose crude oil will be met by Iran," Kazemi said.

The number of active U.S. rigs falls by 20 rigs to 516 last week

European Central Bank purchases €8.69 billion of government and agency bonds last week

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