Oil/Gas Equipment Manufacturers Stressed Despite High Potentials

More than 85% of the much-needed equipment in oil, gas and petrochemical industries are manufactured with indigenous know-how, but most producers are facing insolvency due to the huge economic impact of the coronavirus and lack of specialized raw materials, the head of the Iranian Oil Equipment Manufacturers Association said.
"An estimated 1,100 companies are active in manufacturing oil/gas equipment and can meet a large proportion of local requirement. However, they are forced to reduce production capacity due to a lack of liquidity in this sector," Majid Mohammadpour was also quoted as saying by Mehr News Agency.
“Domestic firms are capable of producing a wide range of equipment, including valves, boilers, turbines, pipes, bearings, electric brakes, traction motor, casing wrench and fluid pump, which comply with international standards.”