Do More With Reuters
Partner Services

Iran president to nominate oil minister in days - report

Sun Oct 14, 2007 6:59pm IST
 
Email | Print | | Single Page
[-] Text [+]

TEHRAN (Reuters) - Iran's president is expected to nominate caretaker Oil Minister Gholamhossein Nozari as permanent minister by the end of this week or next week, a presidential aide was quoted on Sunday as saying.

Parliament must approve President Mahmoud Ahmadinejad's nomination and officials have said he will propose Nozari, who heads the state-owned National Iranian Oil Company.

Nozari was named acting minister after Ahmadinejad dismissed Kazem Vaziri-Hamaneh in August. Some analysts saw it as a bid by the president to increase his control on an industry that is Iran's main source of revenues.

"The president will most likely introduce his two new ministers to parliament at the end of this week or early next week," ISNA news agency quoted the presidential aide responsible for parliament affairs, identified as Masoudpour, as saying.

Along with the oil minister, Ahmadinejad has to nominate an industry minister, now held in a caretaker capacity by Aliakbar Mehrabian, who is expected to be proposed for the post.

Iran, OPEC's number two crude producer, has reaped windfall gains in recent years from the high oil price, earning more than $50 billion in the year to March.

Dubai Debt Fears

Villas are seen on the The Palm, Jumeirah, with Atlantis, The Palm, under construction on the breakwater (crescent), May 3, 2008.  REUTERS/Jumana El Heloueh

Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.  Full Article | Slideshow 

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

Photo
People stroll outside the Taj Mahal hotel ahead of the first anniversary of the militant attacks in Mumbai, November 24, 2009.  REUTERS/Punit Paranjpe
Investors worry about another attack

The risk of militants striking again worries investors who fear that a second attack similar to last year's Mumbai raids could shake the economy.  Full Article | Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

road to Copenhagen

BLOGS

Photo
Calculated Move

Reliance aims big with $12 bln bid for LyondellBasell.  Blog 

SHOWCASE

Capital Raising
Capital Raising

Analysis - China banks' rush for billions could trip markets.  Full Article 

 
Photo
Bonus Payout

"Bonus" has become a dirty word on Wall Street.  Full Article 

 
Bubble trouble?
Bubble trouble?

With the BSE Sensex at around 17,000 points, are the Indian equity markets looking at a possible bubble?   Commentary 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Recovery Path
Recovery Path

Indian techie logging out of downturn gloom.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
Risky Proposal
Risky Proposal

Rupert Murdoch courts trouble if he blocks Google on news.  Full Article