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Iran Oil, Gas Industry unaffected by US-led Sanction

Source: www.gulfoilandgas.com 7/7/2013, Location: Asia

Iran oil minister says development of the country’s oil and gas industry is going on despite the escalation of illegal US-engineered sanctions against the Islamic Republic.

“Despite these conditions [sanctions], development of the [Iranian] petroleum industry continues more strongly” Iranian Oil Minister Rostam Qasemi said.

The minister added that Iran has become self-sufficient in manufacturing large parts of equipment needed in major gas and oil projects currently underway in the country.

The Iranian official also hailed the Islamic Republic’s ninth and tenth administrations under the President Mahmoud Ahmadinejad for making large investments in the field of oil and gas, despite toughing sanctions by the West.

“Before the sanctions, our country used to import billions of dollars of gasoline every year, but today, several refineries have been inaugurated in the country and more refineries will be launched soon,” Qasemi said.

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