Baku, Azerbaijan, Dec. 27
By Fatih Karimov - Trend:
"The economy of resistance" will increase Iran's revenues by $200 billion over the next four years.
Saeed Qavampour, Director for Strategic Planning at Iran's Oil Ministry, said the country's revenues from downstream oil sector sales will increase by $200 billion in four years and then by $100 billion annually, Iran's Shana news agency reported on Dec. 27.
The term "resistance economy" was originally announced by Iran's Supreme Leader Ayatollah Ali Khamenei in the summer of 2010. It is designed to make Iran less vulnerable to international sanctions by relying less on crude-oil exports by increasing domestic production and knowledge-based exports.
Qavampour said that the Oil Ministry is suggesting projects mainly in the petrochemical, refining and storage sectors.
The projects are expected to be submitted to the government's economic council for final approval, he added.
To this end, the Oil Ministry has prioritized boosting oil, gas, and petrochemical production and exports, and improving fuel consumption patterns.
The downstream oil sector commonly refers to the refining of petroleum crude oil and the processing and purifying of raw natural gas, as well as the marketing and distribution of products derived from crude oil and natural gas.