Iran's oil industry provides maximum support to local companies
BAKU, Azerbaijan, Oct. 23
By Elnur Baghishov - Trend:
The measures taken in Iran's oil industry indicate that it provides maximum support to local companies in the country, CEO of the National Iranian Oil Company (NIOC) Masoud Karbasian said, Trend reports citing SHANA.
Investments of $6.2 billion were made in the project for the protection and enhancement of Iran's oil production potential is being implemented by local companies, Karbasian said.
Karbasian noted that Iran's private sector has faced problems such as devaluation and increase in expenses, and the country's oil industry is looking for solutions to eliminate these difficulties.
The NIOC CEO added that a project aiming at domestic manufacture of 10 new oil products and fabrication of special pipelines helped to keep about 300 million euros within the country.