Iran neutralizes US sanctions on oil, gas, petrochemical industries: VP

Tehran, Jan 24, IRNA – Iran’s Vice-President Es'haq Jahangiri said on Sunday that the Iranian oil, gas, and petrochemical industries have literally neutralized the US sanctions and that the Ministry of Petroleum could increase export of oil and oil products fourfold and break the previous records.

Speaking on the sidelines of the 25th International Oil, Gas, Refining and Petrochemical Exhibition (January 22-25), Jahangiri said coronavirus epidemic has kept people away from exhibitions.

He said it is enough for those who think about the future of the Iran’s development and progress to see this exhibition.

After the sanctions were imposed, Iran lost $100 billion of its revenues, but the Ministry of Petroleum bravely broke the recession in oil export.

Saying that Iran is one of the biggest oil and gas sources in the world, he added Iran will before long own licenses produced by Iranian scientists and engineers, some products of which are limited to certain companies in the world.

Making compressors and turbines is an honor for the country, he said, adding no one thought that a country can implement such huge projects while under the most severe sanctions.

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