Iranian Oil Ministry restricts importing foreign-made oil equipments

Business Materials 2 March 2015 12:34 (UTC +04:00)

Baku, Azerbaijan, Mar. 2

By Fatih Karimov - Trend: The Iranian Oil Ministry restricts importing foreign-made oil equipments which are being made in the country.

Iran's deputy oil minister Emad Hosseini said the ministry gives the priority to buying equipments from domestic manufacturers, Iran's Shana news agency reported on March 2.

However, domestic manufacturers should improve quality of their products to meet international standards, he said, adding that the ministry will support domestic companies which are capable to export their products.

Meanwhile, Reza Padidar, head of the union of Iranian oil equipment producers, said in Dec. 2014 that Iran is negotiating with foreign companies to import oil equipment technology.

He added that through negotiating with foreign companies and attracting new investments, the way will be paved for importing the technology for manufacturing oil equipment.

Currently, oil equipments export accounts for 5 percent of the country's total exports, he added.

Iran produces domestically more than 70 percent of equipment which is used in oil industry, he noted.

Iranian oil minister, Bijan Namdar Zanganeh said in Sept. 2014 that although international sanctions target the Islamic Republic's oil industry, the country has been partly successful in bypassing the sanctions.

"The United States and its western allies are trying to create troubles for Iran's oil industry via sanctions, however we continue to move towards our goals," Zanganeh said.