43883
Zanganeh: Iran’s Rebound Not Affecting Crude Prices
Energy

Zanganeh: Iran’s Rebound Not Affecting Crude Prices

Iran's Oil Minister Bijan Namdar Zanganeh said in spite of speculations, the country’s return to international oil markets did not lower oil prices.
“Iran has regained most of its [pre-sanctions] share of the oil market,” Zanganeh was quoted as saying by Shana on Saturday. Referring to his promise to President Hassan Rouhani, based on which Iran’s oil industry would raise 1 million barrels of oil to its daily production within six months following the removal of sanctions, Zanganeh noted that the country has managed to materialize the goal in three months, which has surprised other producers.
“While some people believed the rise in Iran’s production will lead to a reduction in global oil prices, not only it did not happen, but also prices met a surge,” he said.
The minister added that the National Iranian South Oil Company can further increase its oil output to 3 million barrels a day, which is on the agenda.
Bijan Alipour, NISOC’s managing director, said last week that it accounts for 2.9 million barrels of the country’s daily oil output and the company’s share of Iran’s total oil exports is currently over 1.6 million barrels a day.
Zanganeh said the main goal of National Iranian Oil Company under the present circumstances is to complete half-finished plans, especially those of South Pars Gas Field and West Karun oilfields.
"The Persian Gulf country should appreciate post-sanctions opportunities and try to seal contracts with international giant companies under new contractual terms and launch more projects in the sector," he said.

Short URL : http://goo.gl/0eMJZ0
  1. http://goo.gl/3asBq0
  • http://goo.gl/lrg5zf
  • http://goo.gl/s5Pp7a
  • http://goo.gl/yT3La0
  • http://goo.gl/np4Rwi

You can also read ...

Iran Says Has Begun Gas Export to Iraq
Iran on Wednesday commenced the supply of natural gas to its...
Pergas to Submit Proposals for 2 Oilfields
Pergas Consortium, a group of international oil and gas...
From Mideast to Argentina, Total Bets on Cheap Oil, Gas
As the world witnesses spectacular growth in oil and gas...
Iran's sole nuclear reactor in the southern city of Bushehr was built by Russian assistance.
TVEL Fuel Company, a subsidiary of Russia's state-owned nuclear...
Data shows a record 22nd consecutive week of increases in the number of US oil rigs.
Oil Minister Bijan Namdar Zanganeh says the downward trend in...
Oil Firms Risk Trillions if Climate Targets Reached
Energy giants including Exxon Mobil and Royal Dutch Shell risk...
NPC Boosting Urea Output Capacity
Urea production capacity is expected to rise nearly three times...
Norway to Make Biofuel From Wood Chips
Norwegian utility Statkraft has found a way to produce biofuel...

Trending

Googleplus