Another Dawn for our Country's Oil industry

Another Dawn for our Country's Oil industry 

By Parva Soltani, C.E.O of Persol

 

Faced with the significant presence of foreign companies in international "Oil Show" on capital Tehran, I'm proud to confirm that JCPOA has given us a real buzz. According to officials, nearly 1500 foreign participants attending 22nd Iran International Oil, Gas, Refining and Petrochemical Exhibition, which gives all domestic producers and suppliers the impression that they are now truly experiencing post-sanction era.

A walk through the halls of Oil Show 2017, and a friendly conversation with some investors and buyers stroked me that with all debates about the effectiveness of JCPOA, Iranian's ability to exploit oil resources is on the verge of prosperity. Fortunately, four-days presence of representatives from 37 countries such as China, Germany, South Korea, Italy, France, Britain, and the U.S. tend to be a brilliant opportunity for mutual collaboration, leading to trade expansion.

Hopefully it seems, investors across the world are now willing to establish their business in oil and petroleum industries, thanks to lifting of the sanctions and declining costs of transferring money between Iran and their country. Of course Iran is a Greenfield for investors in such a competitive world market.

Without any doubt, eagerness among foreign participants of "International Oil, Gas, Refining and Petrochemical Exhibition" make us feel confident that a prosperous and optimistic future for Iranian oil industry is on board. It is clear that, foreign investment are more crucial for Iran's private corporation, not just state-owned companies. Interestingly, statistics show that from 110 international agreements that have been signed since 2015, 90 have gone to companies owned or controlled by the government. It will be best if beneficiaries of the nuclear deal do not confined to state-owned enterprises. Private sector companies, after all, are key to Iran's future economy, an important fact that must be taken into consideration by our country's next government.

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