Iran: 'No more oil sales’

Press, Volume CXIV, Issue 33426, 7 January 1974, Page 11

Iran: 'No more oil sales’

(y Z Press -4js« —copyright) HAMBURG. January 6. The Shah of Iran is quoted in the West German magazine, “Der Spiegel,” as having said in an interview that he planned to halt the sale of petroleum for fuel purposes, and to develop the Iranian petrochemical industry instead. “In future I shall sell my petroleum in the form of petrochemical products — aspirin, proteins, and the like—and I will not sell any more crude oil,” he is quoted as saying. Petroleum resources would be exhausted within JO years if used for energy needs which could be met **********z*****************

by solar or atomic energy, and these same resources could last for 300 years if used only for the petrochemical industry, he said. The Iranian leader also announced that his country was now prospecting tor natural gas deposits which might produce 40,000 million cubic yards a year. The Shah said that his country had no wish to use oil as a political weapon, and he expressed surprise that the industrial nations had taken offence at con-stantly-rising petroleum prices without bothering to ask themselves what the poor countries had to pay for Western petrochemical products. ***************************