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MP Offers Allocation of Fund to Oil Industry Growth

Service : Economy
TEHRAN, April 10 (ICANA) – A member of the Majlis (Parliament) offered allocation of a moderate amount of the National Development Fund of the country to promotion of development in Iran's oil industry and meeting the needs in this field.
Sunday, April 10, 2011 9:51:01 PM
MP Offers Allocation of Fund to Oil Industry Growth

Hassan Shabanpour made the remarks while talking to IRNA here Sunday, adding the presence of foreign firms in the Iran Oil Show 2011 indicates their willingness to exchange oil-related achievements between the two sides.

Shabanpour added that Iran's oil industry was dependent on foreigners before the 1979 Islamic Revolution.

He further said some 70 percent of the country's oil supply is now being provided by Iranian experts.

Although the US and its allies are to isolate the Islamic Republic, the presence of foreign companies in Iran's international oil exhibition is an indication of how much the sanctions on Tehran are ineffective.

Iran's 16th International Oil, Gas, Refining & petrochemical Exhibition (Iran Oil Show 2011) is to be held in Iran on April 15-19.

Some 1,390 companies from inside and outside the country including foreign and domestic firms are to take part in this international event.

Spain, Russia, Austria, Britain, Italy, German, India, Norway, Denmark, Singapore, the UAE, Canada, Brazil, China, Japan and Thailand are among those states participating in the Iran Oil Show 2011.

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