Thu, 11 Sep 2008|
HE Gholamhossein Nozari Minister of Petroleum, Iran interviewed during the 149th Meeting of the OPEC Conference held in Vienna, Austria on 9/9/2008.
Automatically Generated Transcript (may not be 100% accurate)
And joining me now from Iran and his excellency. The minister for oil and petroleum and energy mr. knows RE. Say thank you for taking the time. They're looking at the state of -- market at the moment we're beginning to see perhaps a little bit of a balance coming back in the market. Would you say that the market to break now is adequately supplied. 10-Q. I believe -- did not content. Who lived -- -- And did the alone some of the market who's going to be cool. I believe and Newton. These all know what to be seen the market. You have some are always news. So. As -- place. The more -- so. I can -- in the east meet team can we shoot and kill both the Ferris quote all of the 09. -- we do not decided that -- future. And we do not. -- Make a decision. Did. Tomorrow can read the and more when it. And that volatility we sell and the upside. And we're still seeing this volatility. On the downside the huge decrease. In the price so it it was not about the price rising and rising in the volatility. It seems to be part of the market really doesn't. We believe that this -- below the market -- -- -- for. Most consumer and this proved you said. Because we. Can induce and in this sort of is it enough and in the interest. But. The situation shows the we have -- production. Price he's going don't. And that we should. Assault ago. All of us -- -- -- from the march. So what would you say to the consumer groups and two people. Who are looking for more oil and really you -- to reassure them that there is sufficient to win and that's. In an emergency there could be more. On -- gives shows that did. And so efficient. Point in the march. And the price shows then. It is more oil and then -- it. So. Opaque kept. Com houses and -- these -- commit -- -- -- -- -- -- -- -- -- -- -- So I believe that -- The market. Been supplying and in the future uses almost applying. So. The -- but. Then. Combed -- and among whom do. Now I'm sure yourself and all of the other ministers. Are very concerned about the state of the global economy. We've seen in the US slowdown. In the OECDS slowdown. And the danger -- now. Some of the other you're economies in the Middle East in Asia and developing -- that we're supporting. The market is there's a danger there this is not good for the oil price or for the UN market -- Of course. -- we. You should trade that he is doable I would go -- it goes -- believe it. And it's good for -- you set have a gluten -- it. So. We should try. To reach. Price. To. What direction and -- -- that. If anybody the -- hits the mark. Now tell me just a little bit about -- own country you're producing. Over four million barrels a day so production is good and strong in Iran. How is investment -- it internally investment and your external investment. But for -- Chinese knowing. Full capacity to you know connection -- -- boat for pulling teeth. But then we prove you listen to -- and yes. That we. Are in his seemed. You -- two years of being us that the boat. 46 billion dollar -- own -- -- -- You're deceiving. Into of course some of these blow because of foreign minister invest. Two -- internal. So things are looking good and the oil market in Iran right now are they can. Yes of course -- we leave it there thank you so much and his excellency the minister from Iran taking time to join us.