Iran energy sector requires massive foreign investment

Iran energy sector requires massive foreign investment
Although Iran ranks first in the world in terms of energy reserves and potentials, to tap and develop them it requires multi-billion-dollar investments.

“Currently, in the absence of such an investment, we have to make optimum use of the resources,” said Mansour Moazzemi, the head of the Energy Committee of Tehran Chamber of Commerce, Industries, Mines and Agriculture.
He said that in the past, a strategic blunder was made in implementing the Subsidy Reform Plan, adding that the government was supposed to secure the fund for executing the plan through the hike in energy prices, Shana reported.
“Global energy prices are, at present, witnessing a downward trend; whereas, prices in Iran have remained almost stable. In addition, the number of subsidy recipients is increasing every year.”
He also said that the country will face serious problems in its energy sector in the future in case the government and state organizations fail to make prompt and prudent decisions.
Moazzemi said the government was supposed to allocate a portion of its earnings from the Targeted Subsidy Plan to domestic production sector, but the fund was not made available to the production, industries and agriculture sectors. 
“Currently, the industrial sector is using only a small portion of its capacity and has sunk into recession. To boost industrial output, the government is required to stimulate the market demand.”
The official who is also advisor to the minister of petroleum regretted that energy consumption in Iran is three times higher than the global average.


Jan 6, 2016 11:27
IRNA |

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The section of oil, gas and petro-chemistry is the up-most and first industrial vantage of the country and the pivot of the Economy of Iran. Regarding the importance of this section and the need for coordinating and organizing the most active people in the field of production and exporting oil ,gas, and petrochemical products ,some forethoughtful and job- makers in the private section of the country decided to come together to fight against the threats by using the opportunity of mass intelligence and potentials.