INSUBCONTINENT EXCLUSIVE:
TEHRAN - Iran's oil industry, a key economic driver, is showcasing its latest achievements at the 29th International Oil, Gas, Refining and
Petrochemical Exhibition (Iran Oil Show 2025) in Tehran, where over 2,200 domestic and international companies have convened.Speaking at the
opening ceremony on Thursday, Saman Ghodousi, director of the exhibition, welcomed lawmakers, senior oil officials, foreign ambassadors and
opportunities for face-to-face engagement and technology exchange among professionals.Ghodousi noted that companies from countries including
China, Russia, Spain, Italy, the United Kingdom, Switzerland, South Korea, Turkey, India, the UAE, Canada, France, Germany, and Brazil are
The event has seen such strong demand that five new exhibition halls have been added to accommodate exhibitors and visitors, alongside
for navigation and company information, and another allowing remote attendees to access the event virtually.The exhibition runs from May 8
to 11, open daily from 8 a.m
to 3 p.m.$10b investment to transform Iran's oil industryAt the opening ceremony, Oil Minister Mohsen Paknejad unveiled plans to boost oil
and gas production and advance $10 billion worth of projects by the end of the Iranian year 1404 (March 2026)
and downstream operations, financing, trade, and emerging technologies, the exhibition reflects the growing role of innovative startups,
tech parks, and research institutions in reshaping the industry.The minister emphasized the importance of transforming the oil sector with
advanced technologies and domestic expertise, pledging strong support for local production and skilled Iranian professionals.30 major
including an additional 150,000 barrels per day (bpd) of crude oil, 30 million cubic meters per day of raw gas, 180,000 bpd of refining
capacity, and 7.0 million tons of annual petrochemical output
Gasoline and diesel production rose by 7.0 and 8.0 million liters per day, respectively.He added that over 30 large-scale oil projects worth
about $10 billion are slated for completion by 2026
These will add 250,000 bpd of oil and 30 million cubic meters per day of gas production capacity.Easing contracts and attracting
energy-intensive investorsThe minister praised a recent cabinet decision allowing energy-intensive industries and petrochemical companies to
invest in gas field development
The first such contract is expected to be signed during the exhibition.He also highlighted economic council approvals aimed at improving
upstream contract terms, including better internal rate of return (IRR), tax incentives, and bonus payments for surplus output.To further
de-risk and accelerate investment, the ministry is rolling out updated contracts, revised IPC models, public-private partnership schemes,
and instruments like the Oil Guarantee Fund, which can issue guarantees of up to $6 billion.Over 200 investment opportunities
unveiledPaknejad said the ministry is exploring domestic and international funding options, including the National Development Fund and
He expressed hope that over $10 billion in contracts would be signed this year for oil and gas field development.At a recent upstream
investment event, the ministry officially presented over 200 investment opportunities, he noted.Paknejad said Iran aims to expand regional
and international energy markets
He cited the Iran-Russia joint economic commission in early May as a key milestone for bilateral projects, adding that legal frameworks and
treaties are being developed to reduce political risk and enable private-sector cooperation.He also highlighted a newly signed gas swap
local equipment in oil, Ptechem industrySeparately, Hassan Abbaspour, Deputy Oil Minister for Petrochemical Affairs, said domestic equipment
usage in petrochemical projects is set to increase from 75 percent to 80 percent
industries.The ministry is offering incentives, including a 30 percent feedstock discount, to investors entering the downstream sector, as
part of a broader effort to complete the petrochemical value chain and reduce semi-raw material exports.A new research and technology
division has been established within the National Petrochemical Company to strengthen domestic production and connect local manufacturers
with the industry.EF/MAPhoto: Oil Minister Mohsen Paknejad speaking at opening ceremony of Iran Oil Show 2025 in Tehran on Thursday, May 8.
This article first appeared/also appeared in Tehran Times
