Parliament stresses need to facilitate investment in oil industry

SHANA (Tehran) – A senior member of Parliament said attracting investment in the upstream oil and gas sector cannot be achieved through slogans alone and requires moving away from government control toward facilitation.

Mojtaba Yousefi emphasized the need to use the government’s authority and resources to provide necessary infrastructure and streamline investment processes rather than competing with the private sector. He stated that securing energy and investment in the oil and gas industry is a key priority.

Yousefi noted that developing oil and gas fields, refineries and the power industry are areas where genuine private sector players can contribute. He urged the government to allow real private sector participation in the value chain and downstream industries, warning against monopolistic practices that hinder such activities.

The lawmaker acknowledged positive steps taken by the Ministry of Oil but stressed the need to prepare attractive, profitable investment packages for genuine private investors. He said investment forums could help attract capital, provided they address private sector demands and offer compelling opportunities.

Yousefi added that while such events should highlight investment opportunities, they must also allow business leaders to share their insights and experiences. Addressing private sector needs and creating favorable conditions for their involvement, he said, would significantly improve Iran’s upstream and downstream oil and gas industries.

News ID 657094

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