Baku, Azerbaijan, Oct. 17
By Elnur Baghishov - Trend:
Although Iranian petrochemical industry has great potential, no investment opportunity has formed in this industry due to instability in price of foreign currency, the Advisor to Minister of Oil of Iran Moayyed Hosseini Sadr said at the “Production and Sustainable Development; Petrochemical Sub-industry and Cooperation” conference, IRNA news agency reported.
He noted that the downstream petroleum industry has lost the neighboring countries’ market due to instability in the currency price and lack of raw materials.
The share of this industry in the regional markets is $25 billion. But the total share of Iran reaches $1 billion.
“In the current conditions, we have faced the unemployment storm and the development of the downstream petroleum industry passes through this critical path,” said Hosseini.
“Production and Sustainable Development; Petrochemical Sub-industry and Cooperation” conference has been held today in Tehran with participation of a number of companies and state officials. The status, problems and prospects of the downstream petroleum industry have been discussed at the conference.