Speaking in a press conference, Ali Forouzandeh, named Russia, China, Germany, Austria, Italy, France, and India as some of the participating countries, adding some 1,500 domestic companies are also taking part in the upcoming exhibition.

The number of foreign companies attending this year’s exhibition has grown 100 percent, as the number of domestic participants shows a 35 percent increase, said the spokesman.

It was not possible to admit all applicants’ requests for taking part in Iran Oil Show 2023, Forouzandeh continued.

Iranian and Russian companies will hold business-to-business (B2B) meetings a day before the exhibition’s kickoff with the aim of familiarizing the country’s private sector with the allied states.

About 100 Russian and 200 Iranian companies have registered for such meetings and are scheduled to hold bilateral and multilateral talks on their deals, including the purchase of products and the transfer of technologies.

According to the Secretariat of Iran-Russia Joint Economic Commission, the two sides’ delegations comprising four working groups for trading oil, gas, and petrochemical products, investment and export of technical and engineering services, manufacture, supply and repair of oil equipment and technological and knowledge-based cooperation will exchange views on boosting bilateral trade ties.

The meetings are aimed at familiarizing the Iranian and Russian delegations with each other’s regulations, incentives for investment in Iran, and investment opportunities in its oil, gas, and petrochemical industries.

Relations and cooperation between Iran and Russia, the two largest holders of the world’s oil and gas reserves, have been put on a new track under the Raisi administration, prompting the two countries to seek the expansion of their ties in different areas, including economic and energy sectors.

Iran and Russia will hold three joint panels at the venue of the exhibition, Tehran International Permanent Fairground, slated for May 17-20, said the spokesman, adding the two sides’ trade conference will be also held at the ministry’s Kushk Hall Center.

An entire hall has been allocated to Russian and Chinese companies to showcase their latest achievements and equipment, stated Forouzandeh, stressing that this edition of the exhibition is aimed at boosting energy relations.

On the sidelines of the exhibition, 100 events will be held, he said, adding different sectors of the Oil Ministry and the private sector’s companies will sign contracts and memorandums of understanding (MoUs) and knowledge-based companies will hold meetings.

Homegrown oil equipment will be displayed at the exhibition, Forouzandeh mentioned.

The official said Iran’s oil industry is on the verge of internationalization, as it has now the capacity to supply the world markets with homegrown equipment and transfer its technologies.

Construction of refineries beyond Iran’s borders is a striking example of the internationalization of the country’s oil industry, he boasted.

Pointing to the motto of the 27th exhibition – Oil Industry; Technological Production, Optimal Consumption – he said consumption is among challenges the country is faced with.

The problem should be addressed, Forouzandeh emphasized, calling for policymakers, technicians, and manufacturers to provide solutions.

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Speaking to ILNA, Rouzbeh Mokhtari talked about reasons for the delay of Indians in fulfilling their obligations and signing the 10-year agreement of India Ports Global Limited (IPGL). He said, “We could have better exploitation in Chabahar Port but it did not happen and with a realistic glance at the developments, we should say that all vows given by both Iranian and Indian sides for development of Chabaha Port have not been implemented.”

He reiterated that first some actions should have been taken for pickup in trade, economy and jobs in Chabaha Port and to this end, officials needed a professional marketing for the port that so far its custodian has not been determined.

Mokhtari reiterated that the country did not take advantage of exemption of the port from the U.S. sanctions as the country could do much better for transit between countries.

He emphasize that an independent marketing management is needed for the port to meet the national interests.

He went on to say that Indians at Shahid Beheshti Port behave in a way to buy time, reiterating that no foreign company has currently courage to invest in Iranian ports and they are waiting for the fate of the Vienna talks and Indians also are trying to buy time.

He noted that despite greenlight and easing way for investment of Indians in Chabahar Port, this Indian company has problem in banking transactions and it fears U.S. punishment for sanctions despite the U.S. waiver for investment in this port.

He reiterated that nobody has been aware of the details of contract with Indians but it seems Indians seek amendment in the contract.

According to reports, Indian banks refrain from giving facilities to this Indian company for investment in Chabahar because EXIM bank of India which is set to grant $150m credit for the project due to the U.S. sanctions is reluctant to do so.

He also criticized choosing a weak Iranian company as the contractor of the Indian operator and this decision has harmed this project .

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