News in Brief
Iran’s exports of polymer products hit 3.6m tons
TASNIM – Iran’s exports of polymer products during the last year were about 3.6 million tons, which accounts for about three percent of the world’s exports, and 15 percent of the Middle East’s exports.
Announcing the above at a meeting on development, production and exports of polymer products at Amirkabir University on Saturday, Production Manager of Arya Sasol Polymer Company Saeid Esmaeili added that Iran’s nominal capacity of polymer production stands at 8.8 million tons.
Iran to hold third specialized exhibition in Baghdad
IRNA – The third specialized exhibition showcasing Iranian economic and commercial capabilities is set to open in Baghdad on Tuesday. The two-day event will be held at the Baghdad International Exhibition Center and will feature 100 Iranian commercial and trading companies.
These participating companies are engaged in various sectors including packaging and printing industries, detergents, foodstuffs, agricultural equipment, technical and engineering services, petrochemicals, pharmaceutical equipment, and disposable containers.
OPEC warns of ‘dangerous’ lack of
investment
in oil
CNN – The head of the Organization of the Petroleum Exporting Countries said that a lack of investment in the oil industry posed a danger to global energy security and could send crude prices to $100 a barrel.
Worldwide, a total investment of at least $12 trillion is needed in the oil industry between now and 2045 to prevent a spike in energy prices, Haitham Al Ghais, OPEC’s secretary-general said at the ADIPEC energy conference in Abu Dhabi.
Underinvestment in the oil sector is “dangerous,” he warned.