Establishment Of OBEC Proposed

Tehran, Aug 17, IRNA – Chief of Pasargad Oil Company Mohsen Delaviz on Sunday proposed establishment of Organization of the Bitumen Exporting Countries (OBEC). Pasargad is the largest bitumen producer in the Middle East. Talking to IRNA, he noted that global demand for bitumen is increasing and establishment of a global cartel to control the price and production of this product is inevitable. Global demand for bitumen stands at 100 million metric tons per year which is a high volume, Delaviz added. He noted that Iran is the seventh bitumen producer and the fourth exporter in the world. Iran is exporting bitumen to 25 countries and several world countries including Asian, Middle East, African and even European states are among purchasers of Iranˈs bitumen, the official added. He said Iran exported 2.3 million tons of bitumen, worth 2 billion dollars, in the past Iranian calendar year (ended March 20, 2014)./end