Iran Eyes Oil, Coal, Ce­ment Sup­ply To Philip­pines

Iran News - - FRONT PAGE -

MANILA (Dis­patches) - Ira­nian busi­ness­men are ex­plor­ing trade op­por­tu­ni­ties in oil, fer­til­izer, coal, ce­ment and agri­cul­ture prod­ucts in the Philip­pines as it opens up its econ­omy.

Pedrito Ali Mousavi Mor­tazi, Iran Cham­ber of Com­merce pres­i­dent, in an in­ter­view said the gov­ern­ments of Iran and the Philip­pines are ex­plor­ing the pos­si­bil­ity of sourc­ing crude oil from the for­mer which would be re­fined in a third coun­try for ex­port to the Philip­pines at a lower price.

Mor­tazi said the Philip­pines cur­rently buys oil and petro­chem­i­cal prod­ucts from traders in Sin­ga­pore at 40 per­cent markup. How­ever, he said, Iran could sim­i­larly pur­chase the same 20 per­cent cheaper than what it cur­rently buys.

He said the in­ten­tion is to sup­ply the smaller oil dis­trib­u­tors since the big com­pa­nies Shell, Petron and Chevron have their own re­finer­ies.

“This is a di­rect gov­ern­ment-to-gov­ern­ment (agree­ment) for the first time af­ter the rev­o­lu­tion in Iran in 1977 when it turned from King­dom into Repub­lic . Since the time, there has been no se­ri­ous agree­ments. The oil and petro­chem­i­cal busi­ness is a mul­ti­mil­lion dol­lar busi­ness,” Mor­tazi said.

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