He underlined looting of the country's joint oil and gas reserves by neighbors over the course of the sector's history, saying the new oil contracts model will serve Iranian firms more than before.
"One shall not revere living in a country with billions of dollars in undergrounds oil and gas reserves with people living in poverty. What matters is turning these reserves to national income."
The PEDEC chief said only the stock market can supply finances for development of the sector but that would be very time-consuming. On the other hand, the administration lacks enough resources to fund petroleum projects and the private sector in the country does not seem to be rich enough to join mega energy projects.
The official further said that under the previous administration $20m was invested on every oil which dropped to $7.5m under the Rouhani Administration.
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