TEHRAN -- Iran’s oil refining industry is making rapid development, which provides a good opportunity for joint investments and the implementation of major projects relying on indigenous expertise, Oil Minister Gholamhossein Nozari stated on Saturday.

Talking to reporters on the sidelines of the second Iran Oil Refining Forum (IOR-II) in Tehran, he said that the national oil refining industry requires 25 billion dollars of funding to complete its development plans.
The National Iranian Oil Company has a number of projects on the top of its agenda for expanding and renovating its oil refining facilities, raising the quality of products to international standards, establishing occupational, health, and environmental protection systems, and promoting energy conservation and joint investments with neighboring countries, he said