News ID: 318315
Published: 0333 GMT November 28, 2021

85% of oil, gas, petchem equipment manufactured domestically

85% of oil, gas, petchem equipment manufactured domestically

The chairman of the board of directors of the Association of Oil Industry Equipment Manufacturers said that currently, 85% of oil, gas and petrochemical equipment is produced inside the country.

Majid Mohammadpour said, “We expect the public sector to behave with us in the same way as with foreign dealers; we can do the same with domestic manufacturers,” Shana reported.

Today, despite the coronavirus and the sanctions, a lot of costs have been imposed on the manufacturers of oil industry equipment. However, we are not disappointed and we stand our ground, he noted.

Mohammadpour added, “The production of 10 items required by the oil industry will continue, but the problems caused by hard currency fluctuations have increased the costs.”

He stated that less than one percent of the association’s capacity is allocated to exports, adding that the lack of certain standards has prevented exports.

Petrochemicals are Iran’s most important industry, after oil and gas. The National Petrochemical Company hopes to lift production capacity to 120 million tons per annum in the near future.

The petrochemical industry has played a key role in domestic economic growth as it adds value and reduces the sale of oil and gas on which the economy has been dependent for decades.



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