23 February 2016 - 16:07
  • News ID: 255674
Iran Seeking to Restore Equilibrium in Oil Market: Spokesman

TEHRAN, Feb. 23 (Shana) – Government Spokesman Mohammad-Baqer Nobakht said that Iran is in contact with other oil producing countries including the Republic of Azerbaijan to bring equilibrium back to crude prices.

His statement was made at a press conference on the sidelines of the Sixth Development Plan on Tuesday coinciding with the official visit of Azerbaijani President Ilham Aliyev on Tuesday.

Nobakht also said there must be clear-cut investments in the oil and gas fields Iran shares with its neighbors so that foreign partners will be attracted to the projects in the joint fields.

“We are in a time juncture which demands definite investments in the joint oil and gas fields. We have to act in a way that (investment) will be attracting to foreign partners,” the spokesman added.

He said the Ministry of Petroleum has invited critics of the new Iran Petroleum Contracts models to convey their expert views adding that the Management and Planning Organization was involved in drafting of the IPC.

News ID 255674

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