The Oil Minister at the Parliament

The Minister of Oil, Bijan Zangeneh which had visited the parliament to answer the questions of a number of representatives, called the objection of some representatives towards increased cooperation with foreign companies a mistake and emphasized that we need to learn in order to improve. In his speech, Mr Zanganeh, referred to the most popular Iranian football teams and commented that: “Even Perspolis and Esteqlal (the two football clubs) have hired foreign coaches!”

Contrary to the opinion of a number of representatives, he sees the sale of crude oil as effective in providing long-term security. A country which sells 5 million barrels a day is much more difficult to sanction and eliminate than one who sells 1 million barrels. Reaching the planned 8.4 million barrels which have been planned requires 200 billion dollar of investment. In Iran we are unable to provide this sum and therefore we need foreign companies.