Iran will submit a proposal to use South Africa's crude oil storage facilities in Saldanha Bay, resurrecting a plan shelved several years ago.
Iranian Foreign Minister Manouchehr Mottaki said Tehran believed Saldanha Bay, with its 45-million-barrel capacity, could open new markets in Africa for Iranian oil exports.
Proposals were floated in 1995 for Iran to store about 15 million barrels of oil at Saldanha on the west coast, north of Cape Town, but talks foundered in part on public concern that increased tanker traffic could harm the environment.
Agreements reached on Tuesday included plans for the National Iranian Oil Company to train South Africans in upstream and downstream petrochemical technology.
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Iran to Use South Africa Oil Facilities
Agreements reached on Tuesday included plans for the National Iranian Oil Company
