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Lucrative Market Open for Private Investors in Iran Energy Sector

(Sunday, May 08, 2016) 13:57

TEHRAN, May 08 (Shana) – A senior Iranian oil official says production of excessive oil and gas from South Pars phases opens up a lucrative market for private investors to step in the field.

Managing Director of National Iranian Oil Products Distribution Company (NIOPDC) Naser Sadjadi said Iranian and foreign private investors must win shares in the market now that new phases of the supergiant South Pars gas field come online and massive gas supplies are available in the market.
Speaking on the sidelines of the 21st Iran International Exhibition of Oil, Gas, Refining and Petrochemicals, Sadjadi said NIOPDC has zeroed in on raising the quality of petroleum products.
He said in 2014 Iran had to import a part of the petroleum products it needs for processing but in the years that followed the need was met by domestic productions. Iran’s import of gasoil has been reduced by 20% since then.
The 21st Iran International Exhibition of Oil, Gas, Refining and Petrochemicals will run through May 8 at Tehran’s permanent fairgrounds. Nearly 2,000 exhibiting companies from 38 countries have put their latest oil and gas achievements on public display at the showcase.