Iran to approve bill to halt oil exports to Europe – Iran privatizes oil production

Iran’s parliament is expected to approve a bill on Sunday, Jan 29, requiring the government to immediately halt oil export to Europe, in response to the EU embargo.

“The draft law to be debated in Iran’s parliament stipulates for halting oil export to the European Union as early as next week,” Fars News Agency quoted Vice-Chairman of the Parliament’s National Security and Foreign Policy Commission Hossein Ibrahimi as saying.

“On Sunday, the parliament will have to approve a ‘double emergency’ bill calling for a halt in the export of Iranian oil to Europe starting next week,” Ibrahimi said.

Also, member of the Parliament’s Energy Commission Moayed Hosseini Sadr said that “if the deputies arrive at the conclusion that the Iranian oil exports to Europe must be halted, the parliament will not delay a moment (in passing the bill)”.

“If Iran’s oil exports to Europe, which is about 18 percent (of Iran’s total oil exports) come to a halt, the Europeans will surely be taken by surprise, and will understand the power of Iran and will realize that the Islamic establishment will not succumb to the Europeans’ policies,” he said.

Meantime, Iran’s OPEC governor Mohammad Ali Khatibi told the Iranian labors news agency that the country might choose to raise the issue at the next meeting of the oil cartel.

January 28, 2012 – 11:15 AMT 


Iran plans to privatize 95pct of oil ministry subsidiaries
Iran’s Oil Ministry plans to cede shares of 95% of its affiliated companies to the private sector according to the article 44 of the Constitution.

Mr Mohsen Khojastemehr the Islamic Republic of Iran Broadcasting said that just 7 out of 142 subsidiaries of the ministry have been excluded from the privatization process.

Previously, Mr Ahmad Qalebani MD of the National Iranian Oil Company said that the company plans to privatize the work of production and exploitation from the country’s oil and gas fields.

Mr Qalebani said that the country’s Fifth Five Year Development Plan (2010-2015) has authorized the NIOC to hand over the exploitation of oil and gas fields to the private sector. The NIOC will keep controlling and monitoring the production process.

In August 2011, Mr Alireza Zeighami MD of the National Iranian Oil Refining and Distribution Company said that Iran intended to privatize seven of its oil refineries by the end of the Iranian calendar year.

Mr Zeighami said that Isfahan, Bandar Abbas, Tabriz, Shiraz, Kermanshah, Lavan, and Tehran oil refineries will be transferred to the private sector but the ownership of Abadan and Arak oil refineries will remain in government control.

(Sourced from