Iran General NewsIran discouraging foreign action in oil

Iran discouraging foreign action in oil

-

UPI: Iranian companies with contracts in the domestic energy sector are called on to get more of their materials from Iranian sources, a director said.

United Press International

TEHRAN, Oct. 22 (UPI) — Iranian companies with contracts in the domestic energy sector are called on to get more of their materials from Iranian sources, a director said.

Managing Director of the National Iranian Oil Co. Ahmad Qalebani said oil industry contractors are prohibited from getting items from foreign companies that are otherwise available from the domestic market.

“Eighty percent of the items used in the oil industry are being produced at home and the remainder are those commodities, where enough capacity has not been built for their production inside the country, are being imported due to time limits,” he told the Oil Ministry’s news agency, SHANA.

Qalebani said that, with sanctions tightening on the Iranian banking sector, contractors should be using more domestically made commodities.

Iranian Vice President for Legal Affairs Fatemeh Bodaqi said last week that Tehran was considering a legal challenge to the latest sanctions imposed by the European Union.

The European Union banned imports of natural gas from Iran to address concerns about the Iranian nuclear program. Additional measures targeted the Central Bank of Iran as well as oil, gas and petrochemical industries.

Latest news

Requirements for a Simple Life in Iran; the Unattainable Dream

It is no exaggeration to say that Iran's economy is in a major freefall. All economic indicators are suggesting...

Sale of Iran’s Historical Items; Is There Anything Left To Sell?

Some of the members of the Iranian regime’s parliament have submitted a plan on the 'optimal use of antiquities...

Iran: Bread Protests Are on Way, Stronger Than Gas Protests

Observers in Iran believe that nationwide protests and uprisings are underway following the Iranian regime’s decision to increase the...

Iran: Tax Pressure on the People and Exemption for the ‘Super Rich’

In a critical situation where most of the Iranian regime’s officials and media outlets are warning its leaders to...

Iran’s Regime and Its Expertise in Reversing the Truth

In order to get an insight into the Iranian regime’s real behavior and culture, you first need to analyze...

Capital Outflow Intensified in Iran

One of the current major crises in Iran’s economy is the capital outflow, which is implemented by the regime’s...

Must read

Thompson: Force must be option with Iran

AP: The threat posed by Iran can only be...

‘Special groups’ surge in Iraq

UPI: Iranian-backed "special groups" are entering Iraq with greater...

You might also likeRELATED
Recommended to you