Oil, gas industry development main factor in Iran’s economic growth, says MP

SHANA (Tehran) – A member of the Iranian Parliament’s Energy Committee said the development of the oil and gas industry was the main factor in domestic economic growth in the previous Iranian calendar year of 1402 (March 21, 2023-March 19, 2024).

Talking to SHANA, Ramezanali Sangdovini added the 13th administration has expanded Iran’s diplomatic ties with neighboring and other states, leading to stronger relations with the BRICS, the Shanghai Cooperation Organization (SCO), and the Eurasian Economic Union (EEU).

Shifting to extraterritorial projects, the MP pointed to Iran’s operations in the Venezuelan refineries, calling for carrying out more operations and building refineries in the Latin American country.

Referring to the Oil Ministry’s positive performance, he said projects for the construction of refinery-integrated petrochemical plants are underway and Phase 11 of the South Pars gas field was put into operation by Iranian experts, leading to the development of the oil and gas sectors.

Sangdovini also noted the Law on Knowledge-Based Production Surge passed by the Parliament can help the country move toward the development, praising the Oil Ministry for utilizing the knowledge-based companies’ capacities.

News ID 639330


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