Discussions on potential oil exports from Azerbaijan to the Tabriz refinery in Iran may take place during the expected visit of Iranian President Masoud Pezeshkian to Baku, Azernews reports via Iranian media.

According to Mehr news agency, the modernization of the Tabriz refinery to process Iranian crude oil would require an investment of approximately $1.7 billion. However, adapting the facility to refine Azerbaijani oil would significantly reduce costs to around $500 million.

The report also highlights that transporting oil from southern to northern Iran remains a costly endeavor for the country, which may further incentivize cooperation with Azerbaijan as a more economically viable alternative.