May 17, 2023 17:46

$15b Worth of Oil, Gas, Petrochem Projects to Be Launched This Year

Currently, Iran’s daily crude oil production is 3 million barrels and natural gas output is 1 billion cubic meters, while the annual production capacity of petrochemical products is about 95 million tons

In the last Iranian year (March 2022-23), $12 billion worth of oil, gas and petrochemical projects were launched and this year about $15 billion worth of oil and gas projects will be inaugurated.
Oil Minister Javad Owji made the statement at the opening ceremony of the 27th Iran International Oil, Gas, Refining and Petrochemical Exhibition, also known as Iran Oil Show 2023, in Tehran on Wednesday.
All of the launched projects have had a direct impact on increasing the production capacity of the country, he added.
Currently, Iran’s daily crude oil production is 3 million barrels and natural gas output is 1 billion cubic meters, while the annual production capacity of petrochemical products is about 95 million tons, the Oil Ministry’s news service Shana reported.

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