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FinancialNews


  • 19-08-20

    Iran's gas business proceeding growth

    (MENAFN) The Iranian Oil Ministry data showed that Iran is one of the most hydrocarbon-rich countries in the world; almost 300 oil and gas fields have been discovered in the country of which more 40 are gas fields.

    Though awaiting lately the Oil Ministry (as the name proposes) was frequently centered on the growth of the oil preserves, thinking the worldwide change to natural gas and the important increase in the domestic require, the government initiated subsequent a new policy to expand mutually sectors next to each other.

    The massive South Pars gas field as the crown jewel of Iran's gas business (which Iran splits with Qatar in the Persian Gulf) was the central point of the Oil Ministry's gas business growth agendas and over two decades subsequent to the begin of the field's growth, it has almost arrived at its full probable and Iran's gas production from the field is supposed to have exceeded that of competitor Qatar.

    Of course, the growth of the gas industry's upstream sector involved noteworthy proceeds in the downstream sector as well, therefore at present merely 14 refineries completely procedure the gas improved from the South Pars phases.

    MENAFN1908202000450000ID1100660003

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