(MENAFN) Iran has recently declared that it will have 50pct collaboration in the building of a refinery in Spain, if its crude oil requirement is entirely supplied by Islamic Republic.
Brazil and Spain have stated willingness to cooperate with Iran in constructing oil refineries, in line with their full commitment to purchase all of their required crude oil from Iran.
In particular, investing in overseas refineries is one of the most common ways used by oil producing countries to boost crude exports, hence came Iran's keenness to do just that.
Meanwhile, some littoral states of the Persian Gulf, which are among world's major oil exporters, own a remarkable number of oil refineries in Europe, Asia and the Americas.
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