News ID: 279915
Published: 0352 GMT January 25, 2021

Minister: Iran welcomes foreign firms’ presence in oil industry

Minister: Iran welcomes foreign firms’ presence in oil industry
AHMAD MOEINIJAM/IRNA

Domestic Economy Desk

Iran has always welcomed foreign company’s presence in its oil industry, said the oil minister.

In an address to reporters on the sidelines of a meeting with members of the Society of Iranian Petroleum Industry Equipment Manufacturers on Monday, Bijan Namdar Zanganeh added foreign firms’ presence in Iran’s oil industry would help develop domestic capabilities and meet the sector’s needs, IRNA reported.   

Iran’s capacities are among the country’s national assets, the minister said, stressing that the human capacity of the domestic oil industry is more important that oil for the sector as it has helped the country stand on its own two feet under the toughest circumstances.

On Indonesia’s seizure of an Iranian oil tanker, Zanganeh said Tehran is following up the issue.

On Sunday, Indonesia said it has seized two oil tankers, one Iranian and one Panamanian, claiming they were illegally transferring oil in its waters, Press TV reported.

A spokesman for the Indonesian Maritime Security Agency, Colonel Bakamla Wisnu Pramadita, said the Iranian-flagged MT Horse and the Panamanian-flagged MT Frea were seized in waters off Indonesia's West Kalimantan Province.

He claimed that the tankers have been captured for committing a variety of violations, including not displaying national flags, shutting off their identification systems, anchoring illegally as well as the illegal transfer of fuel between ships, and spilling oil.

Wisnu noted that the two vessels were escorted by Indonesian officials to Batam Island in Riau Islands Province for further investigation.

Speaking on the sidelines of the 25th Iran International Oil, Gas, Refining and Petrochemical Exhibition (January 22-25) on Saturday, Zanganeh said Iran is capable of producing at least 80 percent of the oil industry equipment domestically.

He added the domestic oil industry is at present capable of building prefabricated processing units as well as producing, among other things, rigs, drills and cryogenic sheets, Shana reported.

Listing chemicals and catalysts as the other products needed by the domestic oil industry, the minister said in the past few years, the country has made a leap in boosting production and achieving self-sufficiency in this sector.

In an address to the opening of the exhibition on Friday, Zanganeh had said Iran’s oil production and exports have increased significantly in recent months with the sales of petroleum products hitting record highs despite US sanctions.

“We set the highest record of exports of refined products in the history of the oil industry during the sanctions period,” despite Washington’s policy of “maximum pressure” and numerous measures and efforts against the country since 2018, when the former US president, Donald Trump, withdrew from the nuclear agreement.

“We will return to the market stronger than before, and faster than expected, if the sanctions are lifted,” the minister said.

“I am not worried about regaining Iran’s lost oil market share, and oil buyers do not limit themselves to one or two sellers,” Zanganeh added.

 

   
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Resource: IRNA
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