Iran’s president dismissed from ministry assembly

Iran Materials 7 March 2012 17:46 (UTC +04:00)

Azerbaijan, Baku, Mar.7/ Trend F.Milad/

Oil Minister Rostam Qasemi has replaced President Mahmoud Ahmadinejad as the chairman of the Oil Ministry's general assembly as per a new bill which has been approved by parliament.

The parliament approved on Wednesday the general bill guidelines.

The bill is related to policy making, supervision, implementation, investment, human resources, technology and international affairs in the ministry, according to IRNA news agency.

"The oil industry's infrastructure needs more than 500 trillion rials (about 41 billion U.S. dollars) of investment to achieve Iran's 20-year economic perspective plan goals," Oil Minister Rostam Qasemi said in December 2011.

"By the end of the fifth development plan (2015), the country's oil production must increase to 5.2 million barrels per day (bpd) and this should happen from the country's joint fields," ISNA news agency quoted Qasemi as saying.