Regulatory System, Missing Piece in Iran Petchem Industry: CEO

Regulatory System, Missing Piece in Iran Petchem Industry: CEO
(Monday, May 28, 2018) 17:18

TEHRAN (NIPNA) --The CEO of Parsian Oil and Gas Development Company (POGDC) said the existence of a regulatory system is a necessity for ensuring development of the petrochemical industry in Iran.

Speaking to NIPNA, Morteza Azizi underlined the seriousness of institutionalized convergence of petrochemical producers in order to ensure the sector's development.

"The industry's regulatory body must be formed based on the latest experiences and expertise in the world," he said.

The CEO further added that a regulatory body could harbinger a major development in petrochemical activities of the country, adding the National Petrochemical Company (NPC), petrochemical holdings and the other related unions and associations could play a crucial part in this regard.

The POGDC director said that the absence of such a system in the country caused troubles for investors in the country as domestic and foreign financiers needed strategic support for operation in Iran.

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