Newsletter
Weather
Community
English home Forum Photo Gallery Features Newsletter Archive   About US Help Site Map
China
World
Opinion
Business
Sci-Edu
Culture/Life
Sports
Photos
 Services
- Newsletter
- Online Community
- China Biz Info
- News Archive
- Feedback
- Voices of Readers
- Weather Forecast
 RSS Feeds
- China 
- Business 
- World 
- Sci-Edu 
- Culture/Life 
- Sports 
- Photos 
- Most Popular 
- FM Briefings 
 Search
 About China
- China at a glance
- China in brief 2004
- Chinese history
- Constitution
- Laws & regulations
- CPC & state organs
- Ethnic minorities
- Selected Works of Deng Xiaoping

Home >> World
UPDATED: 11:17, August 08, 2006
Iran mulls cheap oil exports to poor nations
font size    

Iran's oil ministry said yesterday it was studying a presidential proposal to sell cheap crude to poor countries a plan redolent of Venezuela's attempts to counter US influence through cut-rate energy exports.

President Mahmoud Ahmadinejad in April proposed strengthening the OPEC fund to lighten the burden of surging oil prices on poorer countries while ensuring that rich nations paid the full price.

Iranian Oil Minister Kazem Vaziri-Hamaneh said the world's fourth biggest oil exporter was weighing this idea.

"The president's proposal of selling cheap oil to poor countries is being studied and analyzed," Vaziri-Hamaneh was quoted as saying by the official IRNA news agency.

"The president has appointed the oil and economy ministers to assess his proposal," he added.

However, Vaziri-Hamaneh cautioned the proposal would take a long time as parliamentary approval would be needed for any cuts in the price of crude exports.

Energy accounts for 80 per cent of Iran's export earnings.

Ahmadinejad has formed a strong alliance with fellow anti-US President Hugo Chavez of Venezuela, the world's fifth biggest oil exporter.

Chavez has been sewing up cheap oil export deals around poor countries in the Caribbean and Central America in a bid to outflank the United States, whose Free Trade Area of the Americas he vehemently opposes.

Source: China Daily


Comments on the story Comment on the story Recommend to friends Tell a friend Print friendly Version Print friendly format Save to disk Save this


   Recommendation
- Text Version
- RSS Feeds
- China Forum
- Newsletter
- People's Comment
- Most Popular
 Related News
Dic

Manufacturers, Exporters, Wholesalers - Global trade starts here.
Copyright by People's Daily Online, all rights reserved