Iran official critical of plundering Iranian oil, gas in shared fields

EghtesadOnline: Member of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Hamid Hosseini says neighbors are plundering billions of dollar Iranian oil wealth in the shared fields.

News ID: ۷۳۷۲۹۸

02 October 2016

Hosseini said out of 157 billion barrels of oil and 32 trillion cubic meters of gas that can be extracted, 85 billion barrels oil and 14 billion cubic meters gas are obtained from the shared oil and gas fields, so billions of dollars worth Iranian wealth are plundered by neighbors annually.

According to IRNA, he noted that manufacture of parts, equipment and facilities have a share of more than 30 billion dollars in the oil industry.

Elsewhere in his remarks, Hosseini said Iran reserves a share of 1.8 percent in the world oil refining capacity.

He said Iran daily refines 1,800,000 bpd oil everyday as the figure worldwide is nearly 100 million bpd.

He added that Iran's oil refining capacity will reach five million bpd by the next 10 years.

The official put Iran's petrochemical production capacity at 62 million tons and said nearly 20 billion dollars worth petrochemical products are marketed inside and overseas.