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US companies deprived of participation in Iran's oil activities: oil Minister

Tehran, Nov 20, IRNA-Oil Minister Kazem Vaziri Hamaneh here on Monday said US companies are prevented from participating in Iran's oil development activities due to Washington's economic policies.

His remarks were part of his address to the 11th international oil and gas conference dubbed `Recent Developments in the World's Oil and Gas: Challenges and Opportunities' which opened here this morning.

Security of oil and gas supplies requires investment in this sector, he said, adding that security of energy supply will be put at risk if energy consumers do not cooperate in this regard.

Security of supply and investment in the field of oil and gas, access to developed technology and security in accessing global markets should be given serious attention in order to guarantee security in global energy supply, the Iranian oil minister noted.

The conference's agenda includes a range of topics including the status of oil and gas in the world, in particular in Iran and the Middle East, security of energy supply and demand, current limitations to energy supply, current prospects for energy infrastructure development and global investment in oil and gas.

Past and present regional developments and their impact on the global oil and gas industry as well as ongoing challenges are among other issues to be raised at the conference.

Out of 40 articles submitted, 29 domestic and foreign articles have been selected for discussion in the conference, which aims to give oil and gas industry experts and officials the opportunity to exchange views in the field.

... Payvand News - 11/20/06 ... --

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