Deputy Oil Min: Sanctions made known internal industrial capabilities
IRNA - Islamic Republic News Agency
Bushehr, March 19, IRNA -- Deputy Oil Minister and Managing Director of National Iranian Oil Company (NIOC) said here Monday despite entire imposed sanctions against Iran we see numerous appropriate opportunities for manifestation of industrial capabilities.
According to IRNA, Ahmad Qalehbani further elaborated that such capabilities have been recorded in the upper and lower industrial fields, in scientific growth, and in organizational improvement.
In his message on the occasion of the beginning of the First Exhibition of Iranian Oil Terminals Company Achievements, held at Khark Island, the NIOC managing director added:
The eye-catching success of the Iranian Oil Terminals Company (IOTC) which was achieved relying on concentration over re-creation of the management system has been effective, relying on scientific know-how and thought capital, resulting in very significant achievements in the field of internal and indigenous industrial manufacturing of goods and facilities, aimed at severing dependence on aliens and materializing the objective of full independence.
He reiterated:
This is a highly noticeable function, which is definitely another pride added to the prides of the prestigious Iranian nation and political system.
Qalebani added in his message:
The Iranian Oil Terminals Company (IOTC) as the last ring in the precious chain of crude oil, oil products, and natural gas production has in the course of the recent years, and thanks to the ceaseless efforts and round-the clock hard work and services of the persevering staffs, based on new and basic planning, and taking advantage of the scientific experience and the knowledge of the hard working staffs at that complex very well managed to get in line with the ideals of the system and taking steps to reach the priorities of the oil industry's support for local manufacturing and self-reliance.
The deputy oil minister has further reiterated in his message:
The effective presence of the Iranian Oil Terminals Company at the economic veins of the country made that firm play its unique role in the process of the country's oil and gas production.
The First Exhibition of Iranian Oil Terminals Company Achievements, inclusive of 170 items of heavy, semi-heavy, and light facilities needed in the operational activities in the field of oil exports are put on display for the public.
The exhibition would continue its activities throughout the Nourooz (Iranian New Year) holidays (March 20th-24th) at Khark Island's Sadaf Cinema Hall.
Iran manufactures 60–70% of its industrial equipment domestically, including refineries, oil tankers, drilling rigs, offshore platforms and exploration instruments. Iran is an energy superpower and the Petroleum industry in Iran plays an important part in it. In 2004 Iran produced 5.1 percent of the world's total crude oil (3.9 million barrels (620,000 m3 per day), which generated revenues of US$25 billion to US$30 billion and was the country's primary source of foreign currency. At 2006 levels of production, oil proceeds represented about 18.7 percent of gross domestic product (GDP). However, the importance of the hydrocarbon sector to Iran's economy has been far greater. The oil and gas industry has been the engine of economic growth, directly affecting public development projects, the government's annual budget, and most foreign exchange sources.
In February 2009, for example, the sector accounted for 60 percent of total government revenues and 80 percent of the total annual value of both exports and foreign currency earnings. Oil and gas revenues are affected by the value of crude oil on the international market. It has been estimated that at the Organization of the Petroleum Exporting Countries (OPEC) quota level (December 2004), a one-dollar change in the price of crude oil on the international market would alter Iran's oil revenues by US$1 billion.
In 2010, Iran, which exports around 2.6 million barrels of crude oil a day, was the second-largest exporter among the Organization of Petroleum Exporting Countries. In the same year, officials in Iran estimate that Iran's annual oil and gas revenues could reach $250 billion by 2015. According to IHS CERA estimate, oil revenue of Iran will increase by a third to USD 100 billion in 2011 even though the country is under an extended period of US sanctions. Iran plans to invest a total of $500 billion in the oil sector before 2025.
Courtesy: Tehran Times for the background
2329**2329
Islamic Republic News Agency/IRNA NewsCode: 80589216
|
NEWSLETTER
|
| Join the GlobalSecurity.org mailing list |
|
|
|
