Oil, gas most compliant sectors to economic resilience: Veep

SHANA – First Vice-President Eshaq Jahangiri says oil, gas and petrochemical industries are the most compliant sectors to the principles of economic resilience.

Addressing the opening ceremony of IranPlast Exhibition here in Tehran on Sunday, the official said oil and gas sectors together with the petrochemical industry have set the best records for performing in line with Economic Resilience Policies.

“The newly-devised model of oil contracts which took a relatively long period of time for their arraignment, were endorsed by many of the country’s scholars in the field and provide the best chance for international majors to start cooperating with Iran in oil and gas projects,” said the official.

He said the petrochemical sector is a priority for attraction of foreign finances.

“Iran has secured over $14b of investments in the post-JCPOA setting,” Jahangiri said, adding the private sector is the first priority for tapping foreign resources.