Interview With Expert on Regional Oil-Gas Issues

April 27, 2003 - 0:0
TEHRAN -India and China are the most favorable markets for the export of Iranian oil in the future, said Don M. Kinnersley Minstpet, British senior manager of Business Advisor Services of Pricewaterhouse Coopers LLP, London on Saturday.

Speaking on the sidelines of the 2nd Downstream Petroleum Retail Marketing Conference which was held in New Delhi he told IRNA that economic reforms adopted by India has caused its industries to develop considerably and, consequentially, its need for more energy.

Therefore, Iran which is located in India's neighborhood, is in a good position to export its crude oil and other products to the markets of this country, he added.

On the prospects of the retail industry of oil products in India, he said that for various reasons the future of this activity is bright, adding that with India's population of more than one billion and the people's love for cars and inclination towards imbibing the experiences of others the development and progress of retail marketing of oil and oil products in the country will receive a tremendous boost.

Meanwhile, he stated that economic activities are still controlled by the Government, therefore there are some obstacles on the way of economic and industrial growth in India.

He predicted that with the increased momentum of economic activities in India, the oil companies in the Persian Gulf and the West will establish joint ventures and, as a result, India will become one of the strong economies in the region, adding that its oil sector will grow considerably in the near future.

Commenting on the situation in Iraq and its oil industry after the war, he noted that some circles in the country think that the main objective of the war in Iraq is to obtain control over its oil resources.

"The increase of oil prices to the level of $30 per barrel caused an economic recession in the world. Therefore, to revive the world economy, the oil prices should be brought down to the level of $22-$25 a barrel," he added.

He also noted that Iran and Saudi Arabia, the important members of OPEC, are in favor of stability in oil prices at the level of $22-$25 barrel.

"Relations between Iraq and the OPEC are also vital," he went on to say, adding that cooperation with OPEC with the objective of controlling oil prices and stabilizing it at a level acceptable to both sellers and the consumers will considerably help the world economy.