Iran ready to cooperate with Brunei on Petrochemical JVs

In a bid to provide a solid base for sustainable progress of Brunei, Iran is ready to cooperate in the development of its petrochemical industry. Brunei's wealth in oil resources makes it economy strong. As per official data, Brunei's total exports of crude oil, natural gas and refined products during 2006 were US$7.2 billion. Energy-intensive industries like petrochemicals and oil refining are imperative for an oil-producing country for long term development.