Iran, South Africa discuss resuming oil cooperation
Baku, Azerbaijan, Apr. 29
By Umid Niayesh - Trend:
The South African energy minister Tina Joemat-Pettersson, who is in Iran on an official visit, has discussed oil and gas cooperation with Iranian oil minister, Bijan Namdar Zanganeh.
The sides reviewed mechanisms for resuming cooperation once the international sanctions against Iran are removed, the Iranian official IRNA news agency reported April 29.
The African country was one of Iran's traditional oil markets before the impose of sanctions on the Islamic Republic due to its disputed nuclear program.
At the last month before sanctions cut down Iran's crude oil exports (June 2012), South Africa was buying averagely 68,000 barrels of oil from Tehran per day, according to the report.
The country was Iran's biggest oil buyer from the African continent in the pre-sanctions period.
Iran, with 157 billion barrels, holds the world's fourth-largest proven crude oil reserves.
The Islamic Republic also holds 33.6 trillion cubic meters of proven gas reserves, sharing 18 percent of total global gas reserves, which puts the country in the top of the world's gas holders list.
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