Oct 29 2011 |
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Iran: Ministry to support downstream oil projects
In a move to support the downstream energy projects, Oil Ministry will soon identify the projects for making use of international finance, deputy oil minister said.Mohsen Khojasteh-Mehr pointed out that based on the budget law for 2011-2012 fiscal year (started March 21), Oil Ministry is authorized to protect the downstream sector, saying downstream refinery and petrochemical projects will be identified for drawing foreign funds, Shana reported on Friday.
Underlining the ministry's supports for the private sector, he said the ministry has introduced the sector to the National Development Fund (NDF) to receive the required resources.
Earlier in September, Managing-Director of the National Iranian Petrochemical Company ( NIPC ) Abdolhussein Bayat said that Oil Minister Rostam Qasemi had approved the allocation of $7.5 billion from NDF to petrochemical projects.
He said that the NDF had received a list of high priority petrochemical projects including those in Golestan and Zanjan provinces as well as in Lordegan, Gachsaran, and Andimeshk.
NIPC had earlier announced that Turkey plans to assist Iran with the construction of two petrochemical plants in southern and western Iran.
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