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MP explains Iran's benefits of selling oil products instead of crude

Business Materials 16 May 2021 18:35 (UTC +04:00)
MP explains Iran's benefits of selling oil products instead of crude

TEHRAN, Iran, May 16

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Iran should distance itself from crude oil sales and increase oil products export, said secretary of energy commission in Iran's parliament, Abdolali Rahimi Mozafari, Trend reports via Fars News Agency.

"Crude oil export has never been approved by the parliament, Iran has hydrocarbon resources and should distance itself from crude oil sale and move towards oil products with high added value added," said Mozafari.

"We could produce downstream products that have high added value, compared to crude oil sales, while using refineries to transform crude oil to oil products would reduce country's reliance on oil expert revenues," he said.

Mozafari also pointed out that there's a lot of work in the downstream industry, which involves refining, so compared to the upstream field, the downstream industry would have 10 times more jobs for younger people - thus a good reason for Iran to lay off the crude oil sales.

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