Iran continuing progress in oil industry

"Despite the many threats posed by the enemies, we have no concerns about developing the (Iranian) oil industry, and day by day we are moving toward self-sufficiency in the industry by taking advantage of the specialty and capacities of the country's young scientists," Qassemi said. He stated that Iran is not concerned about the economic sanctions imposed on the country by Western states and considers such threats a very good opportunity for the development of the country. "Many countries in the world are permanent customers of Iranian oil and in view of the new methods (that are available) for selling and supplying oil to global markets, we are not concerned about selling our oil," Qassemi noted. He had also announced in April that despite the western countries' sanctions against Tehran, over $40bln will be invested in the country's oil industry in the new Iranian year (started on March 20). "This year $40bln of capital will be injected into the oil industry," Qassemi said, addressing the inauguration ceremony of the 17th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran at the time. He also reiterated that despite the problems and embargos faced by Iran last year, the country managed to invest $30bln in its oil industry.