October 11, 2008

Iran Welcomes Foreign Investment in Oil, Gas Sector

Text of report in English by Iranian official government news agency IRNA website

Foreign Minister Manuchehr Mottaki on Saturday [11 October] voiced Iran's readiness to cooperate with foreign firms willing to make investment in Iran's oil and gas projects.

Addressing opening session of the 2nd Iran Oil Refining Forum, he also announced readiness of Iran's Foreign Ministry to cooperate with those companies and states.

Referring to the current turmoil in the Caucasus region, he added that Iran insists upon security of oil supplies.

He underlined the need for refraining from extremist politicizing encouraged by the big powers.

"The bullying powers are trying to deprive world countries of numerous blessings of participation in the oil and gas projects to maintain their monopoly over energy industry."

He said that Iran is the safest and most economical route for piping oil and gas.

"Iran can transfer the Caspian Sea oil to the Persian Gulf and free international waters via the shortest and best possible route," Mottaki said.

He also announced readiness of Iran's oil refining industry to carry out various oil projects in foreign countries.

The two-day Iran Oil Refining Forum will continue Sunday.

Originally published by Islamic Republic News Agency website, Tehran, in English 0745 11 Oct 08.

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