6 November 2023 - 14:53
  • News ID: 632707
Iran offers $250bn oil investment opportunity at China expo

SHANA (Tehran) – The National Iranian Oil Company (NIOC) managing director opened up an opportunity for $250 billion investment in the upstream and downstream sectors within the next eight years.

Mohsen Khojastehmehr made the offer at the Sixth China International Import Expo (CIIE) and the Hongqiao International Economic Forum in Shanghai on Sunday, saying investments help stabilize and secure global energy market.

The world’s energy future will be determined by leading players, including Iran, said the NIOC CEO in a session attended by Iran’s First Vice President Mohammad Mokhber and a number of CIIE guests.

Iran ranks first in the world in terms of oil and gas reserves on aggregate, mentioned Khojastehmehr, adding the country is the holder of some 340 billion barrels of crude oil equivalent.

The Iranian companies have a strong presence in the expo, he said and added the event displays massive economic trade, particularly in international energy market, he continued.

Iran-China relations are growing, stated the NIOC chief, adding, “We are seeking to create a strategic platform and an international market-based trade arena.”

Iran is holding a pavilion at the Sixth China International Import Expo, which opened at Shanghai’s National Convention and Exhibition Center on Sunday and will run through November 10.

More than 50 Iranian companies and 250 traders have participated in the event.

News ID 632707


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