IRAN: 1st International Oil Refining Industry Confab ends

The First Conference on International Oil Refining Industry ended on Sunday afternoon. Some 34 lecturers and 11 veterans of Iran's oil industry were awarded certificates of honor at the event.

At the closing ceremony, Deputy Minister of Oil Mohammad-Reza Nematzadeh appreciated all participants at the conference. He described the subjects presented by lecturers as beneficial, and termed the conference a good opportunity to exchange technical information and become acquainted with Iran's oil refining industry.

A number of foreign experts in oil industry from Germany, France and Denmark also took part at the conference to present their latest findings in this respect. A German specialist referred to Iran's expanded program in developing refining industry as a great opportunity for domestic and foreign companies to invest in the field.

The development of Iran's oil industry is coinciding with international expanded investment in refinery, oil, gas, energy and petrochemical sectors, the expert said.

A French expert also called for OTS method to study trade and pass the avenue from planning to operation. The last lecturer, coming from Denmark, explained his company's achievements in modern technology and catalysts which have been used in Iran's refineries.

IRNA

Minister briefs media on plans to avoid impact of sanctions on oil industry

Oil Minister Kazem Vaziri Hamaneh said here Saturday that to avoid the impact of sanctions on the country's oil industry, special plans have been drawn up, just as the industry has been expanding over the past 20 years despite sanctions.

The remark was made at a press conference held on the sidelines of the inaugural ceremony of the first international meeting on refinery in Tehran.

Briefing domestic and foreign reporters on the consequences of possible anti-Iran sanctions, in particular its effect on the country's oil industry, he said, "Though sanctions will affect Iran's oil industry, we will attempt to compensate such impact.

"We will not let our oil industry face any problem through multifaceted planning." Underlining that there is no problem on investment in the industry, attraction of 15 billion dollars for investment in the refinery industry will be financed from domestic and foreign resources.

Turning to the current escalating trend of crude oil price, he said that if the trend continues on the world market, no further reduction in oil quotas, in addition to the decrease by 500,000 barrels in February, will be expected.

The first international meeting on refinery industry was attended by a number of foreign oil companies represented in Iran. Meanwhile, representative offices of foreign companies in Iran warmly welcomed Iran's refinery industry and the upstream section of its oil industry.

IRNA