Iranian Parliament Sets Up Faction on Oil, Gas, Petrochemicals

News ID: 344521 Service: Economy
مجلس شورای اسلامی

TEHRAN (Tasnim) — Iranian lawmakers have established a parliamentary faction titled “Oil, Gas and Petrochemicals” which would be in charge of dealing with issues surrounding the industry.

“Over 64 representatives of (Iran's) oil-rich provinces have signed (a request) to establish the parliamentary faction,” the Iranian MP Shokre Khoda Mousavi told reporters on the sidelines of an open session of the parliament on Sunday.

The faction was established with the aim of supporting the energy sector, particularly the country's refineries, the MP noted.

Earlier in March, Iran’s Oil Minister Bijan Namdar Zanganeh had said that the western sanctions on the Iranian oil industries have failed to isolate the sector.

The Iranian oil ministry has prepared a new, updated model of oil contracts which are said to be much more attractive to the international companies that are vying for investment in Iran.

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