Iran Says It Is Ready for Foreign Investment in Energy Industry

Iran, holder of the world’s second- largest gas reserves, is open to foreign companies investing in its energy sector, the country’s deputy oil minister said.

“Many companies that belong to the government now will become private very soon,” Azizollah Ramazani, deputy Iranian oil minister, said yesterday in an interview in Buenos Aires. “I think the Iranian energy sector in very interesting for foreign companies, including American companies.”

Iran is executing a plan to sell 80 percent of its major state-owned companies to boost the economy and stock values, following a 2006 order by Supreme Leader Ayatollah Ali Khamenei, the country’s highest authority. At least three- quarters of the Iranian economy is controlled by the state.