Sun 28 Apr 2024 | 28 April 2024

Iran Welcomes Local, Intl Investors to Participate in its Oil Industry

Iranian Minister of Petroleum, Javad Owji, emphasized the need to invest in Irans oil industry, adding we welcome all domestic and foreign investors.

He made the remarks at the inauguration ceremony of the 26th International Oil, Gas, Refining and Petrochemical Exhibition, Iran Oil Show, and said investors are well aware of the profitable investment in this sector given the energy crisis.

According to the report of the public relations of the National Iranian Gas Company (NIGC), Owji added that as one of the largest exhibitions in the world oil industry, the Iran Oil Show is an annual gathering and a place for domestic and foreign activists" interactions in Iran"s oil industry.

The 26th Iran Oil Show"s motto of "Knowledge-based oil industry, Iranian production, Global exports" is very inspiring, he said, adding: "a knowledge-based oil industry and focusing on the domestic production are Iran"s Petroleum Ministry"s top priority at the current stage, the same as it is across the world where oil industry is an area of development of many new technologies."

Participation of 44 foreign companies in Iran Oil Show is a manifestation of the importance and priority of energy diplomacy and foreign interactions in this industry, he said. "We have activated energy diplomacy to attract foreign investment, especially from friend nations, and signed important contracts and agreements in this regard.

In the end, he thanked all those involved in holding this exhibition and the participating companies as well as the help of all institutions, Iran"s Parliament in particular, and emphasized, "If Iran"s oil industry improves, all industries, factories and the national economy will improve and create employment opportunities for young people and provide the ground for professionals to grow."

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