TEHRAN – The first joint session between the Majlis Energy Committee and the cabinet for drawing up a comprehensive energy plan was held, the Rapporteur of the Energy Committee of the Majlis said here on Wednesday.

“The oil, industries and mines, and finance and economic affairs ministries will cooperate with the Majlis in this regard,” IRNA quoted Seyyed Ali Adyani-Rad as saying.
“Preliminary studies for presenting a sketch of the plan are underway and it is estimated that the final version of the plan would be prepared in 12 months,” he added.
“The plan will cover different energy-related aspects such as optimized energy consumption patterns, energy resources management, as well as issues about production and supply of energy,” Adyani-Rad explained.
-------------------- Iran changes oil price in budget
Iran’s Parliament says an oil price band between $40 and $50 a barrel should be set by the budget bill for the next Iranian calendar year, beginning March 21, 2009, Press TV reported.
“The world financial crisis and recent developments in the world’s energy supply and demand has considerably decreased oil prices in global markets,” said Ali Adyani-Rad.
“After consultations, Iranian lawmakers have agreed that a price base of $40 and a maximum price of $50 for oil should be set in the next Iranian calendar year,” he added.
“We must try to predict energy market fluctuations in order to reduce our vulnerability,” Adyani-Rad added.
In the proposed budget for the current fiscal year, Iran’s government had set the price of crude at around $44 a barrel.
Crude oil income accounts for 80 percent of Iran’s revenues, making the country’s economy vulnerable to oil price fluctuations.
Vice-president of the Central Bank of Iran (CBI) Ramin Pashaifam has recently warned that the economy will face major problems should oil prices fall below $60 a barrel.
Crude oil prices have taken a sharp downturn over the past three months from a record high of $147 to around $60 per barrel