SA, Iran oil deal possible $6bn

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Cape Town - - South African and Iranian oil companies discussed joint investment projects valued at some $2.0bn in 2002, an amount that could rise by $4.0bn in the years to come, according to Iran's Minister of Foreign Affairs, Dr Kamal Kharrazi.

Speaking on Monday at the opening session of the Seventh SA-Iran Joint Commission in Pretoria, Kharrazi praised the progress of trade relations between the two countries, saying bilateral trade was valued at $1.2bn in 2001, a figure that increased in 2002 and was expected to rise further thanks to a number of projects underway.

Much of this trade was comprised of South African purchases of Iranian oil, as South Africa imported about 40% of its oil from Iran in 2002.

In her opening statement, South African Minister of Foreign Affairs Nkosazana Dlamini-Zuma noted that state-owned oil group PetroSA and listed petrochemicals group Sasol had both established or were in the process of establishing regional offices in Iran.

Agreements had been signed that would see the two companies cooperating with their Iranian partners in "groundbreaking work" in the petrochemical sector.

more...
http://www.news24.com/News24/Finance/Economy/0,,2-8-25_1390615,00.html

but they better watch their ass. First energy and mining deals with Cuba, now oil from Iran.. and they invited Clinton to their party but not Chimp.

Sounds like a rogue nation to me.