Iran Oil Sector Potential Not Fully Exploited

The oil industry has been a driving force for local upstream and downstream companies including private enterprise working for or related to oil in some form or fashion. 
Oil Minister Bijan Namdar Zanganeh made this statement Tuesday on the sidelines of the 5th Iranian Petroleum and Energy Club Congress and Exhibition (IPEC 2019) in Tehran, ILNA reported.
"Although this key sector has undergone major global changes over the past decade; for example, the US has emerged as a major crude and oil derivatives' exporter, there is still enormous potential for expanding the oil industry in Iran," Zanganeh said.
Procrastination in developing the sector will have grave consequences as other domestically-oil dependent industries will go bankrupt gradually, he added.