Jan 6, 2015, 12:51 AM
News Code: 81452704
0 Persons
Growing oil investment top priority despite low oil prices, MP

Tehran, Jan 6, IRNA – An Iranian parliamentarian said investments in oil sector will be given high priority even if the global oil prices continue to decline.

Ali Mohammad Ahmadi said the dropping oil prices were a good alert for the country as they underline the fact that investment trends should focus on oil industry and production.

Noting that production and consumer sectors in the oil industry should be separated, he said that Iran should focus more eagerly on using its existing oil capacities in joint oil fields in east and south of the country.

He stressed that Iran’s rivals in the region are presently striving to make more investments in oil and gas industries with the objective of making Iran’s shares of joint fields their own.

The parliamentarian also said the declining oil prices at such speed is a very rare phenomenon in history, adding that it is due to certain economic and political developments.

In case of more adverse fluctuations in the oil market, Ahmadi added, Iran is determined to increase the volume of its investments in oil industry.