ID :
118120
Thu, 04/22/2010 - 17:29
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Shortlink :
http://m.oananews.org//node/118120
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Iran's Oil Minister: Sanctions, ineffective
Tehran, April 22, IRNA – Minister of Oil Masood Mir-Kazemi said here Thursday that the increase in number of participants in the 15th International Oil, Gas, Refining & Petrochemical Exhibition (April 22-26) signals ineffectiveness of attempts to impose sanctions on Iran.
"Despite certain western states' efforts to impose sanctions against Iran, the number of foreign companies attending this year's exposition is higher than that in the previous years, substantiating ineffectiveness of the sanctions and limitations," Mir-Kazemi said in his opening address to the Tehran exhibition.
He said Iran has not only been marginalized in the wake of the sanctions but its companies have had strong presence in the international tenders and projects, emerging as exporters of the oil and engineering services.
PETROL PRICES UNFAIR
Elsewhere in his remarks, the Minister voiced displeasure at present crude prices on the markets, saying they are "unfair."
"Current oil and gas prices on world markets are unfair. Oil was sold for USD11 a barrel in 1975 but the price for related technology continued surging year on year. So, if the energy prices are not justified and logical, development of oil fields too would not be economical either," announced the minister.
He put Iran's exploitable oil reserves at 138 billion barrels and that of natural gas at over 29 trillion cubic meters, saying the Islamic Republic of Iran has been able to use its resources thanks to its technological and engineering advances.
USD200BN CASH NEEDED IN OIL INDUSTRY IN 5-YEAR PLAN
Mir-Kazemi then cited Iranian oil industry's need to a sum of USD200 billion in order to get developed, saying USD 125 billion need to be invested in the upstream sector of the oil and gas industries, while the remaining portion in the downstream one.
IRAN WELCOMES FOREING CONTRIBUTION
He said Iran welcomes participation of foreign partners in its oil, gas, petrochemical and refining projects.
"In case of demand, we are ready for cooperation with them (foreign companies) and getting them involved (in the business)," announced Mir-Kazemi.
COMMON FIELDS EXPANSION PRIORTIZED
The Minister then said Iran will in the years ahead give the priority in its oil and gas fields' expansion plan to expansion of common zones.
The Oil Ministry is determined to emphasize protective production from the oil and gas fields in the years to come and energy strategy compilation is on the agenda.
The 15th International Oil, Gas, Refining and Petrochemical Exhibition opened here at the Tehran International Fair Grounds on Thursday.
The expo, opened on the 101st anniversary of oil exploration in Iran, is of significance for 10 percent rise in number of Iranian and foreign participants.
Some 435 well-reputed foreign and 907 Iranian companies and enterprises active in oil, gas, and petrochemicals industries have showcased their businesses in 27 halls on 73,000 square meters of lands in the five-day exhibition.
The opening ceremony featured recitations from the holy Quran and speeches by First Vice-President Mohammad-Reza Rahimi, Minister of Oil Masood Mir-Kazemi, and director of Iran's Exhibitions Joint Stock Company, Kazem Akbarpour.
Among other distinguished guests in the meeting was Head of the Atomic Energy Organization of Iran Ali-Akbar Salehi./end
"Despite certain western states' efforts to impose sanctions against Iran, the number of foreign companies attending this year's exposition is higher than that in the previous years, substantiating ineffectiveness of the sanctions and limitations," Mir-Kazemi said in his opening address to the Tehran exhibition.
He said Iran has not only been marginalized in the wake of the sanctions but its companies have had strong presence in the international tenders and projects, emerging as exporters of the oil and engineering services.
PETROL PRICES UNFAIR
Elsewhere in his remarks, the Minister voiced displeasure at present crude prices on the markets, saying they are "unfair."
"Current oil and gas prices on world markets are unfair. Oil was sold for USD11 a barrel in 1975 but the price for related technology continued surging year on year. So, if the energy prices are not justified and logical, development of oil fields too would not be economical either," announced the minister.
He put Iran's exploitable oil reserves at 138 billion barrels and that of natural gas at over 29 trillion cubic meters, saying the Islamic Republic of Iran has been able to use its resources thanks to its technological and engineering advances.
USD200BN CASH NEEDED IN OIL INDUSTRY IN 5-YEAR PLAN
Mir-Kazemi then cited Iranian oil industry's need to a sum of USD200 billion in order to get developed, saying USD 125 billion need to be invested in the upstream sector of the oil and gas industries, while the remaining portion in the downstream one.
IRAN WELCOMES FOREING CONTRIBUTION
He said Iran welcomes participation of foreign partners in its oil, gas, petrochemical and refining projects.
"In case of demand, we are ready for cooperation with them (foreign companies) and getting them involved (in the business)," announced Mir-Kazemi.
COMMON FIELDS EXPANSION PRIORTIZED
The Minister then said Iran will in the years ahead give the priority in its oil and gas fields' expansion plan to expansion of common zones.
The Oil Ministry is determined to emphasize protective production from the oil and gas fields in the years to come and energy strategy compilation is on the agenda.
The 15th International Oil, Gas, Refining and Petrochemical Exhibition opened here at the Tehran International Fair Grounds on Thursday.
The expo, opened on the 101st anniversary of oil exploration in Iran, is of significance for 10 percent rise in number of Iranian and foreign participants.
Some 435 well-reputed foreign and 907 Iranian companies and enterprises active in oil, gas, and petrochemicals industries have showcased their businesses in 27 halls on 73,000 square meters of lands in the five-day exhibition.
The opening ceremony featured recitations from the holy Quran and speeches by First Vice-President Mohammad-Reza Rahimi, Minister of Oil Masood Mir-Kazemi, and director of Iran's Exhibitions Joint Stock Company, Kazem Akbarpour.
Among other distinguished guests in the meeting was Head of the Atomic Energy Organization of Iran Ali-Akbar Salehi./end
