Iran, China to Have Long-Term Cooperation in Oil, Gas Sectors - Iran's Oil Minister

MOSCOW (Pakistan Point News / Sputnik - 20th July, 2020) Tehran and Beijing have agreed on a 25-year comprehensive cooperation plan in energy, oil and gas sectors, and Iran is ready to sign the agreement, Iranian Petroleum Minister Bijan Zangeneh told reporters on Monday.

"[Iran and China will have a] long-term cooperation in development of gas and oil fields as well as petrochemical and refining industries," Zangeneh said, as quoted by Radio Farda.

On June 21, Iran's cabinet of ministers approved the final draft of the Tehran-Beijing cooperation road map. The Iranian parliament's approval is also needed before the deal can be signed.

In addition, the minister refuted media reports which assumed that the deal envisioned concessions to China, and said that the cooperation plan was of equal interest to both countries.

Zangeneh added that Tehran was ready to sing similar deals with other countries.