News ID: 151001
Published: 0720 GMT May 08, 2016

Lucrative energy market open for private investors

Lucrative energy market open for private investors

A senior oil official said the oil and gas production from South Pars will open up a lucrative market for private investors in the field.

Managing Director of National Iranian Oil Products Distribution Company (NIOPDC) Naser Sajjadi said Iranian and foreign private investors must win shares in the market now as new phases of the supergiant South Pars Gas Field, once 1fully operational, will provide huge gas supplies to the market, Shana reported.

Speaking on the sidelines of the 21st Iran International Exhibition of Oil, Gas, Refining and Petrochemicals, Sajjadi said NIOPDC has zeroed in on raising the quality of petroleum products.

He recalled that in 2014, Iran had to import some of the petroleum products it needed for processing but in the years that followed, the demand was met from domestic production. He noted that the import of diesel has been reduced by 20 percent since then.

The 21st Iran International Exhibition of Oil, Gas, Refining and Petrochemicals ended in May 8. Nearly 2,000 exhibiting companies from 38 countries put their latest oil and gas achievements on display in the event.

   
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