In Sierra Leone, towards boosting relations with African states, Iranian oil engineering company (NIOEC)’s director Aliasgar Sajedi on Monday, announced that negotiations were ongoing to build an oil refinery in the country.

Sajedi while speaking in a local gathering repeated that his country has to this point held several negotiations with European, Asian and African countries for the construction and purchase of refineries.

“The country intends to buy the shares of foreign refineries to guarantee purchasing its crude oil. As per the negotiations, at the first stage, Iran is set to construct oil storage depots in Sierra Leone”, Sajedi told IRNA News.

Iran is to return to the oil market if sanctions are lifted by 2016. It is as a result of this the country is planning to construct and buy refineries. Experts say that they are confident that the country might accelerate production by approximately 500,000 barrels, adding to the oversupply in the global market.