Iran Economy NewsOil spill could push up prices - Iran official

Oil spill could push up prices – Iran official

-

Reuters: The Gulf of Mexico oil spill is likely to cause a rise in world oil prices, Iran’s OPEC governor, Mohammad Ali Khatibi, said on Tuesday.

TEHRAN June 29 (Reuters) – The Gulf of Mexico oil spill is likely to cause a rise in world oil prices, Iran’s OPEC governor, Mohammad Ali Khatibi, said on Tuesday.

“The Gulf of Mexico incident will increase the global oil price,” Khatibi said in comments carried by Iranian oil ministry website Shana.

“Concerns over the incident will automatically lead to promoting security in exploration operations and stricter regulations, and any kind of security promotion will increase the production cost.”

BP Plc’s oil spill in the Gulf of Mexico is the largest in U.S. history and has damaged the company’s reputation and hurt its share price. BP said this week it had so far cost $2.65 billion.

Venezuelan President Hugo Chavez said last week the spill would make deep-water oil exploration and extraction harder and have a negative impact on global output in the medium term.

U.S. lawmakers investigating the spill have asked major energy companies for information on their response plans after it was discovered some companies’ plans had errors.

(Reporting by Ramin Mostafavi, writing by Andrew Hammond, editing by Jane Baird)

Latest news

Iran, the Resurrection of the Concept of ‘Revolution’

These days, Iran’s political and social environment has witnessed massive storms, which have changed the meaning of all concepts....

Iran Regime’s Response to Protests Censorship and Violence

The Iranian regime’s leadership has reacted to the ongoing wave of protests over the death of Mahsa Amini, the...

Iran’s New Generation Seeks Nothing but Regime Change

In a silly and desperate statement, the Iranian regime’s foreign minister Hossein Amir-Abdollahian claimed that nothing special is going...

Iran’s Youths Broke the Spell of Fear

One of the main characteristics of the recent protests in Iran is the courage and fearlessness of the people,...

Iran Is on the Brink of a Revolution

The wall of fear has been broken. In many cities across Iran, women are taking to the streets, leading...

Iran’s Regime Claims To Fill Global Energy Gap Despite Crippled Petroleum Sector

In recent weeks, the Iranian regime’s officials have been constantly exaggerating their huge capacity in oil and gas reserves...

Must read

Iran sentences women rights activists to jail

AFP: Iran has sentenced four women's rights activists to...

Iran Regime Secret Missile Factories in Syria

Iran Focus London, 14 Jul - The Iranian Regime...

You might also likeRELATED
Recommended to you