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[marketmaven]

Iran Prepares for Euro-based Oil Trading

Iran president purges 5 officials in oil ministry

SPECIAL TO WORLD TRIBUNE.COM
Friday, January 6, 2006
The ongoing purge by Iranian President Mohammad Ahmadinejad has impacted the Oil Ministry.

The government announced the replacement of five deputy ministers in the Oil Ministry. One of the deputy ministers was responsible for operations of the National Iranian Oil Co., which oversees production of Iran's 4.5 million barrels of oil per day. The Oil Ministry said Gholamhossein Nozari replaced Mehdi Mirmoezi as deputy minister and managing director of NIOC. Nozari has served as head of NIOC subsidiary, Central Iran Oil Co, Middle East Newsline reported.

The reshuffle was ordered as acting Oil Minister Kazem Vaziri-Hamaneh settled into office. Vaziri-Hamaneh has pledged to increase crude oil and natural gas production and accelerate development of Iranian fields shared with its neighbors.