Official: Italy's Key Refiner Clears Oil Debts with Iran
Italy's key refiner Saras announced that it has cleared the debts it owed Iran for purchasing oil before the sanctions were imposed against the country in 2012.
"The debt which amounted to €400 million has been cleared in the first quarter of 2017," the Italian-language media quoted Saras General Manager Dario Scaffardi as saying on Friday.
Last November, Saras announced that it had paid €160 million of the debt it owned Iran for previous crude oil purchases and that the rest of the payments would be made in the near future.
In late February, Iranian Energy Minister Hamid Chitchian declared that Italy has opened a line of credit for its companies to invest in Iran's water and electricity industries.
"The credit line will be used in Iran’s water and electricity industries," Chitchian said in a joint press conference with Italian Environment Minister Gian Luca Galleti.
The Iranian energy minister said that an Italian company has built the equipment for Iran’s first geothermal power house which will be installed soon.
"Another important initiative is construction of more than 7,000 MW in steam section of the country’s gas power stations in a bid to increase efficiency by 1.5 times and significantly reduce greenhouse gas emissions,” he added.
In late January, a senior industrial official announced that Tehran and Rome have agreed to boost cooperation in the form of technology transfer.
"Iran and Italy have agreed on expanding cooperation in the form of technology transfer," Managing Director of Iran's Industry Property Office Seyed Mehdi Mirsalehi told reporters.
He reiterated that Iran has launched a joint project with Italy and the United Nations Industrial Development Organization (UNIDO), and said, "Two representatives from Italy’s Ministry of Industry attended joint Iran-UNIDO meetings."
Misrsalehi underlined that the project aims to support small- and medium-sized industries of Iran in the form of technology transfer from Italy to Iran.
He said that the project can result in boosting trade between the two countries' small- and medium-sized enterprises and their cooperation with the international markets.