Iran, Tehran, Feb. April 7
By Milad Fashtami - Trend:
National Iranian Oil Company officially closed its office in Bolivia, Iran's Mehr News Agency reported on April 7.
Iranian Oil Minister Bijan Namdar Zanganeh issued the order.
The managing director of NOIC, Roknoddin Javadi, said that the company will gradually close its offices across Latin America as well in the near future.
He went on to note that keeping open the offices are not economically justified, adding the offices only served political purposes.
"NIOC should only follow economic approaches, and not political ones, "he noted.
NIOC has signed several oil contracts and agreements with the South and Latin American countries such as Bolivia, Venezuela, Ecuador, Cuba, and Nicaragua.
Iran's state-run oil company opened an office in Bolivia in 2007 and both sides have signed $1.1 billion worth agreements in energy sector.
However, Iran's total investment amount in Bolivia has been about $10 million since 2007, according to Bolivia's official news agency ABI.