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20th int’l oil and gas exhibition in Iran

Iranian Minister of Petroleum Bijan Zangeneh speaks during the 20th International Oil, Gas, Refining and Petrochemical Exhibition in Iran.

Iran held the 20th International Oil, Gas, Refining and Petrochemical Exhibition on May 6 for a 4-day period while there are high hopes that, by June 30, the country will clinch a final accord with the P5+1 group on its nuclear program.

The show came to an end on May 9 after four days in the capital city, Tehran. Aimed at attracting foreign investment and cooperation in petroleum projects, the show was mounted at a time when the country’s oil and gas industries, badly hit by Western sanctions, are in dire need of state-of-the-art technologies and economic support.

The 20th oil show was attended by more than 1,200 domestic and 600 foreign companies from 32 countries at Tehran’s permanent international fairgrounds. Many of the exhibitors partook in the expo for the first time.

Iranians have pinned their hopes on lifting of many of the international embargoes, including the ones on the petroleum industry.

As the June 30 deadline for striking a nuclear deal by Iran and the P5+1 group approaches, many foreign firms, seriously challenged by US-led sanctions on Iran, have buckled up to count down on the removal of sanctions to restore their share in Iran’s oil and gas market.


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