He said Iranian oil industry needs about $200 billion investment to meet the goals of the sixth five-year development plan. "More than 130 billion dollars out of the sum is needed in the upstream sector of the oil industry, more than $50 billion in the petrochemical industry and about 15 billion dollars for refineries."
"In 2013, about 45 percent of power plants' fuel was met out of liquid fuel and more than 27 billion liters liquid fuel, worth about 18 billion dollars, were delivered to power plants. This is while, the share of liquid fuel consumption has reached below 18 percent and will reach about 10 percent in the near future."
As for the petrochemical sector, the minister said easy access to varying kinds of feedstock needed by petrochemical facilities is among other goals of the Ministry of Petroleum. "In this respect, Iran is among rare models worldwide and can put different kinds of feedstock at competitive price at the disposal of investors."
He announced that for the time being, the price for the feedstock is specified and discounts have also been made clear and on the whole, 50 billion dollars worth project are followed in the Iranian petroleum ministry.
He announced that Iranian oil industry needs investment in the upstream sector and it will follow development of downstream sectors, like petrochemicals, refining, oil distribution and gas supply, so that the value chain of the sector will be complete.
Your Comment