Keramat Veys-Karami spoke Tuesday at a specialized meeting titled "Private Sector Investment Opportunities in Iran’s NIOPDC’s Projects" during the Investment and Development Transformation event for Iran’s upstream oil and gas sector. He noted that the company has been the dominant player in fuel supply and distribution for nearly a century, but as the company evolved and domestic oil product consumption grew, many related operations were transferred to the private sector.

Veys-Karami emphasized that, per existing policies, the government must reduce its role in oil product storage, transport, and distribution. He said the company previously operated over 220 state-owned fuel stations nationwide, most of which have since been privatized and sold.

Currently, the company manages 78 active fuel storage depots, he said, adding that about 10 underutilized storage facilities across the country are set to be handed over to the private sector under planned measures.

Discussing compressed natural gas (CNG) consumption trends, Veys-Karami stressed the need for investment in CNG infrastructure. Since 2001, 2,500 CNG stations have been built and operationalized, but daily consumption has dropped from 23 million cubic meters to about 19 million cubic meters in recent years. He called for investments in CNG vehicle conversion, factory-produced CNG vehicles, and station development.

He cited an Economic Council resolution to convert 900,000 single-fuel public vehicles to dual-fuel systems, noting that 350,000 such conversions have already been completed free of charge.

Veys-Karami highlighted the importance of private sector involvement in CNG infrastructure, stating that over 250 million liters of oil products are distributed daily, rising to 320 million liters in colder months. He urged investment in modernizing oil product transport fleets.

On electric vehicles (EVs), he said the Economic Council has mandated large-scale infrastructure development for EVs. Gasoline-heavy vehicles are set to be replaced with EVs, requiring an expansion of nationwide charging stations. He noted that existing liquid fuel and CNG stations are well-suited for hosting EV charging facilities.

 National Iranian Oil Engineering and Construction Company: Driving Refining Industry Growth 

Mohammad Meshkinfam, CEO of the National Iranian Oil Engineering and Construction Company, stated that his firm serves as the development arm of Iran’s National Oil Refining and Distribution Company. Key ongoing projects include:

- The Pars oil products pipeline 

- The Shahid Mahdavi storage project in Bandar Abbas 

- The Abadan pump station and terminal complex 

- The comprehensive Mahshahr export port development 

- Real-time oil product supply and distribution monitoring 

- The Tehran bypass pipeline and oil product transfer to the northeast 

Meshkinfam detailed the 417-kilometer Tehran bypass pipeline, which will carry 200,000 barrels per day to the northeast. The Abadan pump station project, backed by a €60 million investment, aims to supply crude to the Abadan refinery and transport refined products to end-users.

The €100 million Mahshahr port project focuses on modernizing storage tanks and facilities. He also emphasized the real-time supply chain monitoring initiative as a top priority for the company.