Importance of Iran Oil, Undeniable: Oil Minister

Tehran, April 19, IRNA – Oil minister Rostam Qasemi said on Wednesday that the importance of Iran’s oil in the world markets is undeniable. On the sidelines of Iran's 17th International Oil, Gas, Refining, and Petrochemical Exhibition that kicked off on Tuesday, Qasemi said 20 percent increase in oil price proved the issue. Iran as the OPEC’s second largest oil producer plays an important role in the international decisions made about the oil markets, said Qasemi. If imposing ban on Iran’s oil exports continues, the oil conditions will change in the global markets, underlined the oil minister. Referring to the massive participation of the foreign companies in the 2012 Iran’s oil show despite sanctions on the country, Qasemi said Iran will accommodate them. Iran's 17th International Oil, Gas, Refining, and Petrochemical Exhibition will last for four days. Some 315 foreign companies from 44 world states have taken part in the international oil event in Tehran. Despite the international sanctions on Iran, the number of the countries participating in this year’s exhibition has increased by about 10 percent compared to the last year./end