Ali Shams Ardakani, the head of energy commission of Iran’s Chamber of Commerce, Industries and Mines (ICC IM) said currently $120 million revenue is wasted everyday in the country due to the high domestic consumption.

Speaking to Khabar Online correspondent, he underlined that as 1.5 million barrels of oil is allocated to local consumption, estimating that a barrel of crude oil costs $80, actually Iran is losing $120 million of oil income per day.

According to him by such revenue, each day a huge cement plant can be built in the country.

He also stressed that 10 days of such daily income suffices for constructing a big iron foundry, also if the revenue gained in 30 days is used for the same purposes, it can build a huge oil refinery or two petrochemical plants.