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Strong Foreign Attendance at Iran Oil Show 2016

Strong Foreign Attendance  at Iran Oil Show 2016Strong Foreign Attendance  at Iran Oil Show 2016

The 21st International Iran Oil, Gas, Refining and Petrochemical Exhibition will open in Tehran on May 5. 

"Around 1,000 domestic and 634 foreign firms are participating in the four-day Iran Oil Show 2016," Mohammad Nasseri, the head of the exhibition, was quoted as saying by ISNA. The inauguration ceremony is to be attended by Oil Minister Bijan Namdar Zanganeh among several high-profile figures.

According to the official, companies from China, South Korea, Turkey, Italy, Spain, France, Austria, Germany and Finland will participate in the exhibition. 

This is the first time some oil giants plan to attend the Iranian event after the implementation of the Joint Comprehensive Plan of Action, the formal name of the July 14 nuclear deal between Iran and major powers. Nasseri noted that Iran Oil Show is one of the top five exhibitions of its kind in the world in terms of the number of participants and diversity. 

Last year’s exhibition was attended by 600 companies from 22 countries, but the number has risen in the current year, which explains why 10,000 square meters have been added to the exhibition area and new booths have been built.

Iran, the second largest OPEC producer, sits atop 11% of oil and 18% of gas reserves in the world. Every year, the country hosts an international oil show in oil, gas, refining and petrochemical sectors. 

The presence of major foreign companies and domestic producers provide a good opportunity for undertaking mutual cooperation and concluding contracts.

Financialtribune.com