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No obstacle to US oil, gas activities in Iran: Deputy oil minister

Iran's Deputy Oil Minister for International Affairs Hadi Nejad-Hosseinian said in Tehran on Monday there is no obstacle in the way of the American companies to work in Iran's oil and gas industry, IRNA reported.

Talking to reporters, he added US companies, like Iran, have sustained damages due to the mistakes made by the US government and also economic sanctions.

Pointing to the presence of US companies in the tenders on exploration and expansion of 16 Iranian oil blocks, he said one US company attended the conference in which these blocks were introduced, but based on a US law, it cannot be active in Iran.

Lending support to domestic products and to a law that says 51 percent of products should be made in Iran, he said it is not logical to make companies purchase goods and equipment they need from domestic markets.

It would be possible for domestic industries to have further activities and compete with foreign producers through introducing 20-30 percent tariffs, Nejad-Hosseinian added.

He said while the Oil Ministry should reasonably support domestic production, but any unlimited support would hamper the progress of the oil industry.

... Payvand News - 2/23/04 ... --

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