BAKU, Azerbaijan, May 8. There are no restrictions on domestic and foreign investments in Iran's oil, gas, refining, petrochemical, and related sectors, Iranian Oil Minister Javad Owji told reporters, Trend reports.
He made the statement during the opening ceremony of the 23rd International Exhibition of Oil, Gas, Refining, and Petrochemicals in Tehran.
According to him, Iran's oil industry is capable of providing itself with the development of oil and gas fields, marine equipment, the construction of oil and gas refineries, and the drilling of various types of wells.
Owji added that Iran's production is increasing day by day in accordance with the plans. Also, despite the tough sanctions imposed on Iran, the country exported $35 billion worth of crude oil last year (from March 21, 2023, through March 19, 2024).
Meanwhile, the 4-day 23rd International Exhibition of Oil, Gas, Refining, and Petrochemicals kicked off in Tehran.
To note, the US imposed new sanctions on Iran in November 2018 in connection with Iran's nuclear program. Over the past period, over 700 banks, companies, and individuals exporting Iranian oil have been subjected to sanctions. The sanctions led to the freezing of Iran's assets in foreign countries.
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