Eight western European companies are keen to invest in Iran's $2.8 billion Siraf oil refinery project, an Iranian official said, as the country ramps up capacity to reduce is dependence on imports. Iran - OPEC's fifth-largest crude producer - has huge oil and gas reserves but lacks refining capacity, leaving it heavily reliant on imports. Western sanctions imposed on the Islamic Republic over its disputed nuclear programme have also deprived the country of industry technology.
