Iran among Main Energy Actors in World: NIOC Chief
TEHRAN (Tasnim) – The chief executive of the National Iranian Oil Company (NIOC) said main actors determine the future of the world’s energy, adding that in Iran, as one of the main players, opportunities have been provided for investing $250 billion in the oil industry within the next eight years.
Speaking Monday in a meeting on the first day of the 6th China International Import Expo (CIIE), Mohsen Khojastehmehr noted that participation of the Islamic Republic of Iran in this exhibition indicates the country's widespread economic interactions, especially in the field of energy and international trade.
The meeting was attended by Iranian First Vice President Mohammad Mokhber, senior managers and international guests of the exhibition.
The exhibition shows the commitment of Iran and China to develop bilateral cooperation and appropriate relations between Iran’s domestic market and China’s market, Khojastehmeh emphasized.
“We are seeking to set up a stable platform at a strategic level and also create a proper market-based business environment in the international arena.”
Trade and business between Iran and China are on an upward trajectory, he said, adding that Iran showed in practice that it has a safe, reliable and stable market in the field of energy trade.
Iran ranks first in the world in terms of rich oil and gas reserves and has about 340 billion barrels of crude oil, he stated, adding that these valuable reserves require an investment of about $250 billion in the upstream and downstream sectors for the next 8 years.
The 6th CIIE kicked off in Shanghai on November 5 and will run through November 10. This is one of the biggest trade fairs in China.