Iran has agreed in principle to Kyrgyzstan’s proposal to jointly build an oil refinery in the Central Asian country, Iranian President Masoud Pezeshkian said.
Speaking on the sidelines of the Shanghai Cooperation Organization and Shanghai Plus summits in Kyrgyzstan, Pezeshkian said the proposal had been viewed positively and that Iran agreed with the idea in principle.
He added that, if implemented, Iran could supply the refinery’s required crude oil, while the resulting petroleum products could be divided between the two countries.
Pezeshkian described the proposed model as an opportunity to strengthen economic and energy cooperation between Iran and Kyrgyzstan.
Kyrgyz President Sadyr Japarov, for his part, welcomed expanded economic and energy cooperation with Iran and invited capable Iranian oil exploration companies to use their expertise and capabilities in projects in Kyrgyzstan.
The proposal could pave the way for greater participation by Iranian companies in Kyrgyzstan’s oil projects, including exploration, refining, technical and engineering services, and petroleum product marketing.