Speaking on the sidelines of a conference on CSR in oil industry on Tuesday in Tehran, and answering a question about US's enhanced oil production, Mr. Bijan Zangeneh said Iran would continue selling its oil on international markets.

Touching on the issue of selling crude oil and gas and production of petrochemicals, Mr. Zangeneh added that the petrochemical industry was a refined sector as it supplied end-user products and completed the value chain.

The official further added that Iran expected to witness a new leap in the petrochemical industry by the year 2021, adding the country’s petrochemical output had nearly doubled since 2013.

He also said that production would exceed 100 million tons per year and the country would be preparing for the third leap in the sector.

Zangeneh further described Iran Plast as a real petrochemical exhibition where downstream industries showcased their latest achievements.

According to him, there is a six-billion-dollar feedstock market for downstream industries in Iran which is unparalleled in all other industries in the country.
 The official also said that the by-laws of petro-refineries was being devised.