Japanese oil firm resumes activities in Iran
Baku, Azerbaijan, Sept. 15
By Fatih Karimov – Trend:
Japan’s Cosmo Oil Company has resumed its activities in Iran’s oil sector, following years of non-activity, Mehr news agency reported Sept. 15.
This week a delegation including the company’s managers and experts visited Iran to study the grounds for cooperation. The company's experts held a specialized training course on oil refining industry as well in Isfahan refinery, located in central Iran.
Cosmo is Japan's third-biggest refiner by sales after JX Holdings and Idemitsu Kosan.
Cosmo held negotiations with Isfahan refinery's representatives for boosting cooperation in Iran's post-sanctions period.
Iran has signed seven memorandums of understanding with Asian companies to build, renovate or develop its refineries following the removal of sanctions last January.
Meanwhile the Japanese companies have been more active than other Asian companies in implementation of refinery projects in Iran.
Preliminary agreements have been signed with Japanese Marubeni and Chiyoda to carry out development project in the Bandar Abbas refinery, located in southern Iran.
The Islamic republic also held talks with Japanese JGC engineering company for decreasing fuel oil production capacity in Tehran Refinery, while a memorandum was signed with Nippon Oil for implementation of an oil refinery project in Tabriz.