Oil/Gas Equipment Manufacturers Stressed Despite High Potentials
More than 85% of the much-needed equipment in the oil, gas and petrochemical industries is made with indigenous expertise, but most manufacturers are facing bankruptcy due to the huge economic impact of the coronavirus and the lack of specialized raw materials, according to the Head of Das announced the Iranian Association of Oil Equipment Manufacturers.
“An estimated 1,100 companies are involved in the manufacture of oil / gas equipment and can meet much of the local demand. However, they are forced to reduce production capacities due to a lack of liquidity in this sector ”, Majid Mohammadpour was also quoted by Mehr news agency.
“Domestic companies are able to manufacture a wide range of equipment including valves, boilers, turbines, pipes, bearings, electric brakes, traction motors, housing keys, and fluid pumps that meet international standards.”
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