The head of Iran's Research Institute of Petroleum Industry (RIPI) said the institute had saved the country 200 million dollars by supporting knowledge-based companies and providing and commercializing items needed in the industry.

Iran Press/Iran news: Speaking during a visit to Hasheminejad Gas Refinery in northeastern Khorasan Razavi Province, Jafar Tofighi underlined the necessity of continued cooperation between the refinery and RIPI.

The institute operates as the research arm of the Iranian Ministry of Petroleum and provides technological services in all sectors of the oil and gas industry, he said.

RIPI, he added, is cooperating with knowledge-based firms for addressing the needs of the Petroleum Ministry which has so far led to saving $200m in the current calendar year started on March 21.

The official said that RIPI was now able to supply items that were previously imported by domestically producing them.

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