IRI countering sanctions by domesticating oil industry

Islamic Republic of Iran has been countering the US-engineered oil sanctions through domesticating the national oil industry, Oil Minister Rostam Qasemi told worshippers in weekly prayers ceremonies Friday. Mr. Qasemi said the IRI has drawn up an overhaul plan for the industry and will implement it as a roadmap. He said the industry will tackle the case of all joint oil fields until the end of the Iranian year (March 20, 2013) with a view to increase national oil output. Under the master plan, daily output in gas fields will increase to 1.47 billion cubic liters, the minister said, adding that the national refining capacity will be enhanced to 1 million barrels per day in a major stride to reduce crude oil sales.

"Islamic Republic of Iran has been countering the US-engineered oil sanctions through domesticating the national oil industry, Oil Minister Rostam Qasemi told worshippers in weekly prayers ceremonies Friday"Mr. Qasemi noted that the IRI has turned into a major exporter of oil derivatives from an importing one as a result of the national subsidy master plan