228 comments on DrumBeat: August 14, 2007
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228 comments on DrumBeat: August 14, 2007
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GAIA Host Collective
Iran Replaces Oil Minister, Says No Hike in OPEC Output
Hardline Iranian President Mahmoud Ahmadinejad issued a decree late on Sunday which, in a surprise move, replaced Oil Minister Vaziri Hamaneh with the head of the national oil company, Gholam Hossein Nozari.
"The decisions that will be taken in future will be done with coordination between the oil ministry and the government."
In one of his final statements as oil minister of OPEC's number two producer and the world's fourth biggest, Vaziri Hamaneh said last month that Iran firmly opposed a hike in OPEC's crude oil output.
http://www.iranmania.com/News/ArticleView/Default.asp?NewsCode=53499&New...
http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=166689...
Raise your hand if you thought POST PEAK IRAN was going to increase output anyways.
Last time I checked they only had 50KBPD *spare* capacity anyways. Since they are in decline, doubt it exists anymore anyways.