Energy
0

Zanganeh: No Trial & Error in Oil Industry

The Oil Ministry concluded deals worth €550 million with producers of seamless pipes, but they need to maintain quality and fulfill their obligations
Zanganeh: No Trial & Error in Oil IndustryZanganeh: No Trial & Error in Oil Industry
Domestic producers’ one-year delay in delivering propane and butane pumps inflicted losses worth over $500 on the ministry

Oil Minister Bijan Namdar Zanganeh said the maximum use of Iranian manufacturers' capacity is a top priority, but the key sector "is not a place for trial and error".
Zanganeh made the statement in a parliamentary hearing on Tuesday over criticisms concerning the ministry's "lack of support for domestic manufacturers", Mehr News Agency reported.
"The ministry has purchased over a million tons of petrochemical products and concluded deals worth €550 million with producers of seamless pipes," Zanganeh said.
"This is while the law calls for only €100 million worth of deals with local manufacturers."

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com