Iraq, Turkey investors keen to modernize Iran petrol stations

Private investors from Iraq and Turkey have held preliminary negotiations with Iran to expand and modernize its fuel stations, reports Financial Tribune.

Attracting foreign companies is part of the Iranian government’s plan to overhaul its retail oil and gas market. So far, more than 250 state-controlled fuel stations have already been privatized.

Regular international conventions are also held in the country to present opportunities in the sector, one of which is the Transportation & Urban Exhibition to be held in Tehran on December 24 – December 27.

"Trade delegations and companies from Japan, Russia, Italy, Iraq and Turkey have expressed readiness to attend the meeting to display their cutting-edge gas stations' spare parts and equipment," said Ali Maneshi in an interview with Mehr News Agency.

There are 3,600 fuel stations and 2,400 compressed natural gas (CNG) stations in the country which need renovation and investments.