“Creating a safe and transparent environment for investors is a top priority for the Oil Ministry,” Paknejad said. 

On Friday, during a meeting with members of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) and private sector representatives, Paknejad presented a report on the country’s energy production and consumption.

He emphasized the need for constructive engagement with the private sector and significant investment in the oil and petrochemical industries and stated that the private sector could play a key role in helping reduce the country’s energy imbalances. 

Highlighting Iran’s vast oil and gas potential, Paknejad noted, “As one of the world’s largest energy producers, Iran has substantial opportunities for international cooperation. Developing this industry requires sustainable investment and strengthened economic relations with other countries, which can lead to economic growth and job creation.” 

He urged ICCIMA members to take a more active role in encouraging domestic and foreign investors to engage in production and refining sectors.

“Collaboration with the private sector in the oil industry can serve as a strategic opportunity for sustainable national development,” the minister said. 

Paknejad also reaffirmed the ministry’s comprehensive support for private sector and chamber of commerce partnerships to achieve economic objectives.

Chamber of Commerce calls for supportive policies 

During the meeting, ICCIMA members stressed the importance of structural reforms and removing barriers to facilitate cooperation.

They called for supportive policies to strengthen the capacity and effective presence of the private sector in oil-related activities. 

Key topics discussed included energy management, leveraging private sector capabilities in bunkering, easing private participation in oil and gas field development, and establishing financial engineering frameworks within the Oil Ministry. 

Paknejad issued directives to implement some of the private sector’s proposals promptly and emphasized the continuation of such meetings. 

The session aimed to foster synergy between the government and private sector for the development of the oil industry as initial agreements were made to pursue joint projects.