TEHRAN: Taiwan is keen to expand its import of oil from Iran by 27 percent in 2016, said Jerry S. K. Yang, the director general of Commercial Office of the Republic of China (Taiwan) to United Arab Emirates (UAE), in a letter to Masoud Khansari, the chairman of Tehran Chamber of Commerce, Industries, Mines, and Agriculture (TCCIMA).
According to the letter, CPC Corporation, a state-owned petroleum, natural gas, and gasoline company in Taiwan and Formosa Plastics Corporation have decided to increase their oil imports from Iran from 11 million barrels to 14 million barrels in 2016, the Shana news agency reported.
Yang also expressed hope that TTCIMA would open an office in Taiwan in near future, so that the trade between the two countries’ businessmen would be facilitated. Last week, Iranian Oil Minister Bijan Namdar Zanganeh said the country’s oil exports have surpassed 2 million barrels per day following the lifting of sanctions under its nuclear deal with world powers.
Iran, an OPEC member, has the world’s fourth-largest oil reserves but its exports were long hampered by sanctions over its nuclear program. Last month, Managing Director of the National Iranian Oil Company (NIOC) Rokneddin Javadi said the rising trend of crude oil exports will continue in the current Iranian year which began on March 20, predicting the production to rise to 4 million bpd during the year.
