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FinancialNews
16-08-18
Iranian, German firms ink deal to cooperate in downstream crude oil
(MENAFN) Iran's Sepahan Oil Company has reportedly inked a cooperation deal with Germany's ADL Group for downstream crude oil sector.
Under the deal, the German group is to transfer engineering technology in order to develop the quality of basic materials which are used for producing oil for the industry and vehicles.
IRNA cited Sepahan's managing director Mohammad Ebrahimi as saying "this contract is important as it comes concurrent with the mounting pressures of the United States."
The managing director added that the ADL Group is set to execute the first phase of the project, in cooperation with its Austrian and Swiss partners.
MENAFN1608201800450000ID1097302297
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