Speaking in his first meeting with the newly-elected president Masoud Pezeshkian and the cabinet ministers today, he, in part of his remarks on the oil industry’s development, said that benefiting from the new methods of oil and gas extraction in the upstream sector and expanding products diversification in the downstream sector are two priorities of the country regarding oil sector.

Earlier, The National Iranian Oil Company’s (NIOC) managing director Mohsen Khojastehmehr had said that an increase of 400 thousand barrels of oil production per day is the most important mission the petroleum minister has assigned to the NIOC.

Speaking at honoring and introducing Farokh Alikhani as the new manager of supervising the oil production division at NIOC, he said that increasing oil production will result in rising national wealth and NIOC has a special mission to do so.

“When Mohsen Paknejad as the proposed petroleum minister was addressing parliament to win a vote of confidence, he focused on boosting oil production as one of his main priorities as petroleum minister which is indicative of the importance of upstream activities in his agenda and that is why we are determined to deploy all the capabilities to increase oil and gas production”, NIOC’s CEO said.

He continued: realizing export targets, providing oil refining and petrochemical plants’ needs to feedstock and achieving revenue targets for the next two years are the other important missions of the Petroleum Ministry and NIOC.