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Nozari: Iran not to lower its crude price
Minister of Oil Gholam-Hossein Nozari said Monday that none of oil producing countries will lower their oil prices and the prices will be decided by the market variables and the supply and demand mechanism.
Nozari made the remark when asked by reporters whether Iran will lower its crude price in pursuit of similar act by Saudi Arabia. 

Speaking on the sidelines of a ceremony to praise services of those in charge of constructing Iran-Alborz semisubmersible drilling rig in the Caspian Sea, Nozari commented on a gas deal Iran has signed with Pakistan, and said the government’s activity in the 5th five-year economic development plan (2010-15) will focus on energy, gas in particular, which is hoped that will create many opportunities for the country’s economy and industry sectors. 

He said the country’s gas production capacity should reach 1.1 billion cm/d by 2015, marking end of the 5th five-tear plan. 

He said that policy making and raising prices are among key goals of the Oil Ministry. 

Asked whether he would be the 10th government’s oil minister again, Nozari said it depends on the president's decision. 
Aug 15, 2009 11:03
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