European SMEs ready for oil co-op with Iran

By  Trend

As many as 114 small and medium-sized enterprises (SMEs) of Europe have expressed readiness for cooperation with Iran in the country’s oil projects, said Reza Padidar, a member of the Energy Commission of the Tehran Chamber of Commerce, Trend reports via Tasnim News Agency.

He said that 114 foreign companies were registered in the Tehran Chamber of Commerce.

He added that Iran intends to use the potential of foreign companies in technology transfer and investment projects.

"We want to invite these companies to Iran in April, so that they get acquainted with Iran’s potential and projects," he said.

Padidar said that during the first nine months of this Iranian year (started March 21, 2018), 57 percent of Iran’s revenues accounted for oil and hydrocarbon products.

Therefore, Iran’s economy is an oil-based economy, he noted.

"In accordance with the government’s proposal, 1.54 million barrels of oil should be exported per day, as envisaged in the budget for the next Iranian year (starts March 21, 2019)," he said. "Taking into account the exemption applied regarding Iran’s oil exports, the revenues from sales will reach about $30 billion."

He added that these funds aren’t enough for development projects.

Padidar predicted that the Iranian government will be able to export 1.54 million barrels of oil next year.