Big Oil Discounts Not  in National Interest
Big Oil Discounts Not  in National Interest
Wednesday, September 12, 2018

Big Oil Discounts Not in National Interest

Wednesday, September 12, 2018

Big Oil Discounts Not in National Interest

Although President Hassan Rouhani has granted permission to Oil Minister Bijan Namdar Zanganeh to sell oil with a discount, such a strategy cannot serve Iran's national interest, the country's former representative to the Organization of Petroleum Exporting Countries said.
"Selling crude at generous discounts is a serious mistake and will have an adverse effect on the country's future oil trade," Mohammad Ali Khatibi was also quoted as saying by Mehr News Agency. 
"Prices are all clear in the market. Offering high discounts to buyers will motivate them to ask for more substantial discounts that puts the country's revenues in danger."
According to the official, even if the National Iranian Oil Company intends to negotiate trade discount, it should be decided case by case and within a specific framework.


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