Nasser Soudani says the energy committee finalized the bill Saturday, and that the full parliament will debate and vote on it on Sunday.
Soudani is deputy chairman of the energy committee. His comments were posted on the parliament's website.
The European Union imposed its oil embargo against Iran on Monday. It was the latest attempt to try to pressure Tehran over a nuclear program the United States and its allies argue is aimed at developing nuclear weapons.
Iran says its program is for purely peaceful purposes.