According to APIC, Ahmad Mahdavi told the opening ceremony
of APIC general assembly that reports by international institutions as well as
the International Energy Agency showed that in the coming years, development of
the petrochemicals industries would drive the demand in the oil market, adding
the era of consuming crude oil as fuel had come to an end and countries needed
to use oil in completion of the value chain in the refining and petrochemicals
industries.
He said Iran had long been seeking completion of the
value chain in the petrochemicals sector to prevent sale of crude oil and gas
and to diversify the petroleum products by developing the petrochemicals
industry.
Likewise, the official added, the Iranian Minister of
Petroleum Bijan Zangeneh had fully met his promises for feedstock supply to petrochemical
facilities in the winter despite rising demand in the season in the residential
sector.