- CNTV English - CCTV News

Iran to develop sustainable energy to reduce oil consumption: official

10-23-2012 17:19 BJT

DUBAI, Oct. 23 (Xinhua) -- Iran has embarked on an endeavor to develop green energy in order to reduce its domestic fossil fuel consumption, Iran's oil minister said on Tuesday.

Rostam Qasemi, the oil minister of Iran, said his country plans to increase the production of alternative energy like solar, wind and bio-fuels in order to reduce the usage of its own oil and gas reserves for internal purposes.

"Iran is implementing new economic policies such as subsidies reform, optimizing and standardizing fuel consumption, and changing domestic consuming model," the minister said at the ongoing three-day World Energy Forum 2012 in Dubai.

With regard to economic sanctions imposed by the United States and the EU, Qasemi said "sanctions are not new to Iran, we have been dealing with them for more the 30 years," adding that oil demand from emerging markets is rising.

However, Qasemi admitted that the Iranian currency Riyal has fallen 80 percent in value due to the new round of sanctions.


Editor:James |Source: Xinhua

Hot Videos view more
Hot Stories more

Embassy: 2 Chinese nationals aboard capsized S Korean ship

The Chinese embassy in Seoul has confirmed two Chinese citizens were on board the ferry. Staff from the embassy has visited their families. Of the ferry’s 475 passengers, 9 have been confirmed dead. 179 people have been rescued and 287 are still missing.

Eight dead, 14 hurt in fatal highway accident in S. Philippines

Eight people were killed and over a dozen others were injured when a wayward truck plowed to several vehicles along a national road in this southern Philippine city over the weekend, police said Sunday.

Fmr Egyptian president accused of ordering killing of activists

Morsi is accused of ordering the killing of activists on December 5th 2012. The brief session was televised, but some Egyptians are beginning to lose interest in the drawn out trial.

More Video News

Choose TV Program