Malaysia will resume imports of oil from Iran when the West-engineered sanctions are removed against the Islamic Republic, according to Ikhlas Abdul Rahman, the Middle East director of Malaysia’s Petronas Company.
The official said his country is ready to import 50,000-60,000 barrels per day (bpd) of oil from Iran in the post-sanctions time, the Mehr News Agency reported on Tuesday.
A new round of cooperation will be started between Petronas and National Iranian Oil Company (NIOC) after lifting of the sanctions, Abdul Rahman noted.
Petronas’s office in Tehran was active even during the sanctions; the official stated, adding that the activity of this office will rise when the sanctions are removed.
“We are very hopeful to return to the Iranian oil industry”, he further highlighted.
PETRONAS, short for Petroliam Nasional Berhad, is a Malaysian oil and gas company that was founded in 1974.
Malaysia imported 50,000-60,000 bpd of oil from Iran before the sanctions were imposed against the Islamic Republic.
Previously, Italy’s Eni S.p.A. and France’s Total S.A. announced their readiness for return to the Iranian market once the sanctions are lifted.
The two European oil giants declared that besides providing finance, they are prepared for transferring technical knowledge for the implementation of oil projects in Iran, according to the Shana News Agency.
Global energy giants, which have been waiting for return to the Iranian market, now have a real chance to restore their activity in the Islamic Republic.
They are showing interest in a post-sanctions Iran, though most have said they're waiting on the wings.