World can't do without Iran oil: Tehran official

TEHRAN, Nov. 26 (MNA)--Iran's oil and gas reserves are so vast they cannot be excluded from the world market as France is urging the West to do,the National Iranian Oil Company head said on Friday. "Iran possesses massive oil and gas reserves... Thus ignoring Iran in oil and gas exchange will not be acceptable (by the international community)," said Ahmad Qalebani, who is also a deputy oil minister. France's announcement that it would soon stop importing oil from Iran was hollow, he added. "The National Iranian Oil Company does not export any crude oil to France that could be subject to sanctions," he said. France on Thursday said it would stop buying Iranian oil. The foreign ministry said the move would be organized "in liaison with the European partners." France has called on other Western nations to put in place an embargo on Iran's oil exports. Qalebani said Canadian sanctions on the sale of petrochemical technology and equipment were only words. "Iran does not import any oil and gas equipment from Canada. This country has no role in supplying parts and equipment to Iran's oil industry," he said.