Bank Of Baku

Iran may lose OPEC’s presidency

Iran may lose OPEC’s presidency
# 31 May 2011 11:07 (UTC +04:00)
Baku. Ahmad Yusifzada – APA-Economics. Iran’s Parliament demands President Mahmoud Ahmadinejad to designate a new oil minister warning that failure to do so would result in the loss of the OPEC presidency.

“A caretaker or oil minister must be in charge of heading the Organization of Petroleum Exporting Countries; and if we continue with the current trend, Iran will certainly lose OPEC’s presidency,” said the Spokesman of the Energy Commission of Iran’s Majlis Emad Hosseini.

Hosseini called on the president to introduce a new caretaker or oil minister and said Majlis demands an explanation on why Ahmadinejad has not done so already.

Note that, Ahmadinejad has assumed office of oil minister after he dismissed Welfare Minister Sadeq Mahsouli, Minister of Mines and Industries Ali-Akbar Mehrabian and Oil Minister Massoud Mirkazemi from their posts in line with Article 53 of the Fifth Five-Year Development Plan.


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