Iran News ...


04/23/08

Iran denounces sanctions on oil producing states

Rome, April 23, IRNA -- Iran's Oil Minister Gholam-Hossein Nozari said here on Tuesday evening that war and sanctions imposed on several major oil producing countries in the past three decades have been among main elements damaging the global energy supply capacity.

He made the remarks while addressing the 11th session of the International Energy Forum (IEF) which started in the Italian capital on April 20.

The economic welfare is dependent on energy security, he said adding that energy security is the outcome of the governments' policies and their interference in economic affairs.

All countries are in dire need of peace, stability, logic, observance of international rights, and reduction of investment risks, the Iranian minister said stressing that the current situation has resulted from continued hostile policies of certain countries against a number of producers.

Some 70 percent of the world oil resources are located in the Middle East region, he said regretting that the region has been passing through critical period over the past several years.

Referring to occupation of the neighboring Iraq which owns the largest world oil resources, he regretted that the second owner of the global oil and gas resources, the Islamic Republic of Iran is currently under several embargoes.

As to reasons for oil price increase, Nozari reiterated that the current increase in the global oil price has been the result of wars and economic sanctions on several major oil producing countries.

He stressed that energy is essential for uprooting poverty and promotion of sustainable development, therefore, such an issue should enjoy priority by world leaders in line with the economic and social progress for all countries.

Nozari urged all oil producing and consuming countries not to politicize the energy sector and fulfill international rules and regulations so that they would let market forces play their roles away from political intervention.

Nozari, heading a delegation, arrived in Rome on Saturday to attend the IEF session as well as a session of International Energy Business Forum (IEBF) held in Rome on April 21-22.

The IEBF provides a platform for discussion between energy ministers and heads of international oil companies.

Representatives of some 60 exporting and consumer countries meet every two-year at the International Energy Forum. They include members of the Organization of the Petroleum Exporting Countries (OPEC), which pumps about a third of the world's oil.

The IEF describes itself as "the largest global gathering of energy ministers" and says its particular approach aids development of contacts and understanding on the key issues.

Initiatives undertaken by the IEF include the Joint Oil Data Initiative JODI, which is attempting to improve the reliability and timeliness of data available to the oil market.

Energy security and the existing relations between energy, environment and economic development were discussed by the participant delegations in the two gatherings.

... Payvand News - 04/23/08 ... --



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