Iran builds refineries abroad

Iran newspaper announced negotiations between the Iranian government and six countries i.e. Malaysia, Indonesia, South Africa, Sierra Leon, Brazil and India for cooperation in the construction and the purchasing of shares of crude oil refineries. Numerous producers of crude oil make such investments in order to guarantee their future sales. For example Saudi Arabia has purchased a 65% share from South Koreas third largest refinery in order to increase its shares of refined oil. Based on the attest info, Iran is to purchase 40% of the shares in a 300 thousand barrel refinery in Indonesia and 30% of shares in Malaysian refinery. These actions can be seen as a guarantee against the potential return of sanctions for the Iranian government and the oil industry.

Akhbar Sannat newspaper quotes the Secretary of the Board of Dairy Industry and wrote: Dairy products have not seen an increase in price but have rather become closer to their actual cost. Reza Bakeri pointed out that since 2015, in spite of inflation the price of dairy products has remained relatively the same. Therefore, he sees the recent price hike as completely logical. Mr. Bakeri claims that despite the fact that the government has set a 17% profit margin for dairy factories, not even a single factory has been able to achieve a 5% profit and most large and medium sized companies are running on 1.8% profits.