Philippines eye to import oil products from Iran
Baku, Azerbaijan, Oct. 20
By Emil Ilgar – Trend:
Philippines plan to buy more oil products from Iran, Philippines Department of Finance said in a report.
Philippines Secretary of Finance Carlos Dominguez discussed the issue with Iranian ambassador Mohammad Tanhaei.
Currently Philippines do not intake Iranian oil, while it is importing almost 70 percent of its needs from Persian Gulf’s Arab nations, like Kuwait, from Saudi Arabia, United Arab Emirates, Qatar and Oman, according to official statistics.
“The Iranian government has expressed interest in working with the Philippines’ energy sector in the fields of oil exploration and the petroleum product trade,” the Department of Finance (DOF) said in a statement.
“In return, Iran promised to source more bananas from the Philippines. We do want to improve our relationship with Iran,” Dominguez said.
Iran exported about 2.05 million barrels per day (mb/d) of crude oil, 435,000 b/d of gas condensate and the more than 400,000 b/d of oil products like diesel and mazut in September.