Addressing the inaugural ceremony of Tehran’s 17th International Oil, Gas, Refining, and Petrochemical Exhibition on Tuesday, he noted that all upstream and downstream oil, gas, and petrochemical projects of Iran are currently active and the country is determined to further reduce dependence on foreign manufacturers of oil industry equipment.
“Despite the intensification of [international] sanctions [against Iran's oil industry], new records have been registered for building new gas refineries in the South Pars region,” Qasemi said.
The minister stated that the construction of a gas refinery in the South Pars region has had a progress of 60 percent in 21 months.
“Despite international sanctions, [the Iranian] Oil Ministry welcomes foreign companies’ investment and participation in [developing Iran's] oil and gas industries,” he added.
Qasemi further noted that due to the high quality of Iran's crude oil, the country is currently facing no restrictions for selling and exporting crude oil to global markets.
The minister stated that about USD 200 billion should be invested in Iran's oil, gas and petrochemical industries during the Fifth Economic Development Plan (2011-2015).
According to Qasemi, about USD 30 billion was invested in Iran's oil and gas industries during the past Iranian calendar year (ended March 21) and the figure is expected to hit USD 40 billion this year.
The 17th International Oil, Gas, Refining, and Petrochemical Exhibition was officially inaugurated at Tehran’s permanent International Fairgrounds .
According to director of the exhibition, Eshaq Rouyvar, a total of 940 Iranian and 315 foreign companies from more than 40 countries including the US, the UK, Germany, and France have taken part in this year’s event.
Rouyvar added that despite the international sanctions on Iran, the number of the countries participating in this year’s exhibition has increased about 10 percent compared to the one held last year.
A conference on the promotion of production capacity by relying on national labor and assets will be held on the sidelines of the Tehran oil exhibition, which will continue until April 20.
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Iran's Oil Minister Rostam Qasemi says despite international pressures and foreign sanctions against Iran, none of the country’s oil industry projects have been stopped so far.
News ID 181708
