Iran plans to reduce reliance on crude oil exports

Iranian OilIranian President Mahmoud Ahmadinejad said Iran should establish more processing industries in the oil and gas sectors to reduce dependence on exports of crude oil, semi-official Fars news agency reported on Thursday.

Ahmadinejad said Wednesday that the budget plan for the next Iranian year (starting on March 21) envisaged less dependence on crude oil revenues, according to the report.

The government has planned to replace crude oil exports with oil derivatives to save the value-added available in processing of the crude oil and to enable national economy to enjoy the lucrative downstream industry in the oil sector, he was quoted as saying.

On Tuesday, Ahmadinejad inaugurated a petrochemical plant with the annual production capacity of 300,000 tons of heavy polyethylene in the western province of Kermanshah.

On Saturday, Iran opened Kavian Petrochemical Plant in the south of the country, where Ahmadinejad said the launch of the project indicated self-reliance, determination and hard working of the great Iranian nation.

The Islamic republic is constructing west ethylene pipeline path which extends from Iran’s southern natural gas-rich region to the northwestern city of Tabriz after passing 2,450 km.

Ahmadinejad has said there are plans for the construction of two other pipelines in central and eastern part of the country.

Iran is under unilateral Western sanction pressures on its crude oil and natural gas exports. The West has accused Iran of secretly developing nuclear weapons under the guise of its civilian nuclear program, a charge Tehran has consistently denied.

By Energy Tribune

 

The Iran Project is not responsible for the content of quoted articles.