16 September 2013 - 16:16
  • News Code: 207813
New Oil Industry Approach: Wisdom and Professionalism

TEHRAN Sep 16 (Shana): During the new administration's term in office, oil industry strategy will be based on collective wisdom and deploying professionals.

Iranian minister of petroleum Bijan Namdar Zanganeh made the remarks today during a ceremony held for introducing newly appointed managing director of National Petrochemical Company (NPC) adding ‘I am here to pave the way for moving oil industry in a new direction based on rationality, wisdom, prudence and hope’.

He added during the past eight years a great part of the human resources left oil industry which was the reason behind hardships in recent years.

Praising new managing director and board of directors of NPC for assuming new portfolio, Zanganeh said petrochemical sector is in a condition that can make the second leap forward for generating value.  

the value of petrochemical products has grown from one billion dollars to 20 billion dollars since the last time I came here [more than ten years ago] to introduce engineer Nematzadeh[current Minister of Industry, Mining and Trade] as head of NPC, Zanganeh who was minister of petroleum during the presidency of Mohammad Khatami from 1997 to 2005 said.

At that time, I stressed on not using domestic banks loans and general budget in petrochemical projects which was positive because petrochemical sector turned to foreign credits and private sector to finance its projects, Petroleum Minister said.

 He continued: these events were occurring at a time when a number of South Pars gas field phases were under development and petrochemical units were simultaneously under construction and were the main applicants of feedstock.

He promised the price of feedstock to be finalized in next two months based on a special formula.

Zanganeh also underlined the importance of research activities in petrochemical sector stating various technical breakthroughs in recent years indicate satisfactory performance of research sector in recent years.

 The official said: current problems of petrochemical units such as providing feedstock and procurement of spare parts should be solved as soon as possible so that petrochemical plants be able to maximize their production capacity.

We should not blame just sanctions for failing to maximize production capacity but we should find the basic reasons behind the inefficiency through conducting a thorough examination, he noted.

According to him, petrochemical units should pay the cost of feedstock on time and at the same time petroleum ministry is tasked with feeding the units on a sustainable way.

Elsewhere in his remarks Zanganeh noted that petrochemical sector should not assess its performance based on the weight of produced petrochemicals but should take into consideration their value, a criteria that can lift GNP 'and that is why we should seek generating value added and completion the chain of value'.

With regard to new hopeful environment has been created in the country and oil industry, I think we will be able to put behind current problems, Zanganeh concluded.

Last week, Iranian minister of petroleum named Abbas Sheri Moqqadam as managing director of National Petrochemical Company (NPC) and thanked Abdolhosain Bayat for his services as the former NPC’s managing director.

News Code 207813

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