Shazand's Imam Khomeini oil refinery in the central Iranian city of Arak (file photo)
The Iranian deputy oil minister says the Islamic Republic and Afghanistan have agreed to build a pipeline in order to facilitate the exports of Iran’s oil products to its eastern neighbor.
“With the construction of this pipeline, part of the energy needed by Afghanistan will be met with full guarantee and security,” Ali Reza Zeighami said on Tuesday.
Zeighami, who is also the managing director of the National Iranian Oil Refining and Distribution Company (NIORDC) said an Iranian delegation will soon travel to Afghanistan to discuss the details of the agreement.
Earlier in December, Iran's Oil Ministry signed an agreement with Afghanistan's Ministry of Commerce and Industry for the annual export of one million tons of Iranian oil products.
According to the contract, Iran is expected to export products including gasoil, jet fuel and gasoline to Afghanistan.
Iran exported about USD nine billion of oil products including base gasoline, diesel fuel, fuel oil, kerosene, and jet fuel to various countries during the first 10 months of the previous Iranian calendar year (ended March 19, 2012).
Iran holds the world's second-largest proven oil reserves and also the second-largest natural gas reserves.