Iran and Kyrgyzstan Advance Joint Oil Refinery Project

Iran and Kyrgyzstan are moving forward on a joint oil refinery project, with both countries agreeing to review the proposal positively. The announcement came during the Shanghai Cooperation Organization (SCO) and Shanghai-Plus summit in Kyrgyzstan.

Iran's President Masoud Pezeshkian confirmed that Tehran has reviewed the proposal favorably and agreed to its principle, stating that 'Kyrgyzstan's proposal for the joint construction of a refinery in this country has been reviewed positively, and Iran agrees with the principle of this proposal.'

Under the proposed framework, Iran would supply crude oil for the refinery, while the resulting petroleum products would be divided between the two nations. This model of cooperation is seen as an opportunity to elevate economic and energy collaboration between the countries.

The project comes at a critical time, with Kyrgyzstan heavily reliant on imports to meet its domestic oil needs. A joint refinery could significantly benefit the country by providing domestic refining capacity. The partnership also has potential for expansion into areas such as joint investment, technical services, and marketing of petroleum products.

President Japarov welcomed the expansion of economic and energy cooperation with Iran and extended an invitation to Iranian companies active in oil exploration to bring their expertise to Kyrgyzstan. This is expected to pave the way for a greater Iranian corporate presence in Kyrgyzstan's oil projects.