Building a world of
resilient communities.

MAIN LIST

 

Oil Minister says Iran's oil industry in dire need of development

Iran will be in dire need of development in the oil, gas and petrochemical sectors in future, said oil Minister Bijan Namdar-Zanganeh in Tehran on Monday.

Addressing the inaugural ceremony of the 9th Oil, Gas, Petrochemical Exhibition here at Tehran International Fairground on Monday, Zanganeh said, "If we work properly, we would be able to address domestic demand, while partially meeting the demand of the Persian Gulf littoral states and countries north of Iran."

To meet the target, the country is required to raise its contracting and building capacity three-fold through investment in the managerial and software sectors, he added.

Zanganeh said there are few contractors in Iran to be able to undertake a rls 2,000 billion project.

He said cautious estimates put the amount of investment required to be made in the national petroleum industry at dlrs 100 billion in the next decade.

Committing 60 percent of the investment would mean creation of at least dlrs six billion worth jobs for Iranians, the oil minister underlined.

He put the total amount of investment in the buy-back projects at about dlrs 20 billion in oil and gas sector, and dlrs 15 billion in refining and distribution of domestic resources

"The bulk of investment- about dlrs 10 billion to dlrs 12 billion- has been committed in the petrochemical industry," he added.

He said 40 to 45 percent of the capital investment has been generated from domestic resources.

The minister stressed close contacts between Iranian and foreign contractors to help promote national oil, gas and petrochemical industries.

Meanwhile, Secretary of the Exhibition Akbar Nematollahi told the audience that number of Iranian and foreign firms attending this year's exhibition had risen by 37 percent and 56 percent respectively.

Nematollahi said the participating companies are from 34 countries, including Germany, Italy, India, Thailand, Poland, Canada, the US, South Korea, China, Japan, India, Singapore, Turkey, Pakistan, Austria, Qatar, Syria, Indonesia, Turkmenistan and Denmark.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.


A Day of Tears: Report from the "sHell No!" Action in Portland, Oregon

This week, activists in Portland, Oregon, employed non-violent civil …

Peak Oil Review - Aug 3

A weekly review including: Oil and the Global Economy, The Middle East & …

Energy, the repressed: Paging Dr. Freud

Today, a new psychological repression hides in plain sight. It is the …

Evidence Released at TransCanada’s Keystone XL Permit Renewal Hearing Sheds Light On Serious Pipeline Risks

Just because TransCanada continually states that the Keystone XL pipeline …

Peak Oil Notes - July 30

Much of the news that will eventually move oil prices came on the …

Higher-risk 'Shallow Fracking' More Common than Suspected: Study

The fracking of oil and gas less than a mile from aquifers or the Earth's …

Shale Gas Reality Check

Recently, the EIA released its Annual Energy Outlook 2015 and so we asked …