Iran is expanding its oil-production capacity in anticipation that an eventual end of sanctions would allow it to wrest back its share of the global crude market, according to Oil Minister Bijan Namdar Zanganeh.
“Iran and China Cooperation have no effect on the prosperity of INSTEX,” a former Iranian Ambassador to China told ILNA.
Iranian authorities say size of investment in downstream sections of the oil and gas industry, where petrochemicals are produced and marketed, would reach $93 billion by 2025.
