August 30, 2016

Malaysia wants to resume buying crude and oil products from Iran, Iranian Deputy Oil Minister for International Affairs and Trading Amirhossein Zamaninia was quoted by IRNA news agency as saying on Tuesday.

He said this after a meeting with Malaysia’s Speaker of the House of Representatives Pandikar Amin Mulia here.

Zamaninia said negotiations, in this regard, were taking place between officials of the two nations.

Iran-Malaysia oil cooperation goes back to the pre-sanctions era when Iran used to send a daily average of 50,000 to 60,000 barrels of oil to the country, according to the report in Tehran Times.

 Early in May, Iranian Oil Minister Bijan Namdar Zanganeh met with Malaysian Foreign Minister Anifah Aman in Tehran and suggested the two countries embark on short term business cooperation, for a start.

Zanganeh, according to the report, had said that Malaysian companies were ready to resume cooperation with Iran and the two sides would soon begin negotiations.

Business, sales of crude oil and oil products, oil and gas fields’ development as well as investment in the downstream sector were among topics discussed during the meeting of Zanganeh and Aman in May, the report said.

FMT News

About Track Persia

Track Persia is a Platform run by dedicated analysts who spend much of their time researching the Middle East, in due process we fall upon many indications of growing expansionary ambitions on the part of Iran in the MENA region and the wider Islamic world. These ambitions commonly increase tensions and undermine stability.