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- Iran Aims to Diversify Economy - Improve its Oil exports and Plan to Reduce Imports of Gasoline
Iran Aims to Diversify Economy - Improve its Oil exports and Plan to Reduce Imports of Gasoline
- By Oil and Gas Author
- Published 08/24/2006
- Petroleum Pipeline , Offshore Drilling , Oil and Natural Gas Prices , Iran , Oil Field Development , Liquefied Natural Gas LNG , Exploration and Discoveries , Natural Gas Petroleum , Crude Oil Petroleum
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In addition, Iran is attempting to diversify its economy by investing some of its Oil revenues in other areas, including Petrochemicals. In 2004, non-oil exports rose by a reported 9 percent. Iran also is hoping to attract billions of dollars worth of foreign investment to the country by creating a more favorable investment climate (i.e., reduced restrictions and duties on imports, creation of free-trade zones). However, there has not been a great deal of progress in this area, in part due to disagreements between reformers and conservatives. In addition, foreign investors appear to be cautious about Iran due to uncertainties regarding its future direction under new leadership, as Well as the ongoing, international standoff over the countrys nuclear program. In September 2005, Iran threatened to impose investment limits on countries opposing its right to access nuclear fuel cycle technology. In November 2005, Iran rejected a proposal by Russia and the EU whereby Russia would supply it with enriched uranium, as opposed to Iran enriching the uranium itself.
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Iran Aims to Diversify Economy - Improve its Oil exports and Plan to Reduce Imports of Gasoline
