The 23rd International Iran Oil, Gas, Refining and Petrochemical Exhibition, the largest annual convention in Iran's petroleum industry, will commence at Tehran's International Fairground on May 6. Iran Oil Show 2018, the four-day exhibit, is sponsored by Oil Ministry and its subsidiary the National Iranian Oil Company. It expects to host more than 2,000 domestic and international companies, according to the event's official website. The event provides a good opportunity for major foreign companies and domestic producers to undertake mutual cooperation and conclude contracts in the upstream and downstream oil sectors of the oil- and gas-rich country. Last year’s exhibition was attended by 800 international companies from China, South Korea, Turkey, Italy, Spain, France, Austria, Germany and Finland, an upgrade over the 634 that came in 2016. However, big names such as BP and Total were absent in the last year's event. Iran, the second largest OPEC producer, sits atop 9.3% of oil and 18.2% of gas reserves in the world.
© Financial Tribune Daily and Contributors 2014-2025