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Iran doubles oil exports in post sanctions era

7 May 2016 17:38



Minister of Petroleum Bijan Zangeneh said exports of Iranian oil have been doubled since ‘Implementation Day’ of the Joint Comprehensive Plan of Action (JCPOA) was announced and anti-Iran sanctions were lifted on January 16.

Speaking at the 21st International Oil, Gas and Petrochemical Exhibition (Iran Oil Show) that started on May 5 in Tehran for four days, Zangeneh said the country was exporting one million barrels of oil daily in the sanctions era.

Implementation of the JCPOA created opportunity for industrial and economic development in the country, stressed Zangeneh.

Today, he added, Iran is capable of establishing constractive interaction with the international companies and also exporting goods and services.

Further, he described Iran Oil Show as an opportunity for relations with domestic producers and reputable international companies.

Elaborating on Iranian government’s achievements after Implementation Day, Zangeneh pointed to increase in export of crude oil and gas condensates.
So, the country could take back some parts of its share in world market of
energy, he noted.

‘To develop oil industry, we should make use of not only resources in the country but also foreign technologies and investment,’ he said.

Also, by implementation of new oil deals, 100,000 job opportunities will be created in the country, he added.

According to new oil deals, foreign companies will direct the works while Iranian companies will be responsible for implementing the projects in different fields of downstream industries.

About Petroleum Ministry’s priorities, Zangeneh said development of joint fields and increase in oil discovery are on agenda.

The Ministry is also planned to increase petrochemical products and export gasoline and gas oil in future, said he.

Tehran’s oil exhibition is the first international oil show being held in Iran in the post-sanctions era.

Countries present in the event include Germany, Ukraine, Belgium, France, Hong Kong, Armenia, India, Italy, UAE, Austria, Malaysia, China, Canada, the Netherlands, Poland, Venezuela, South Korea, Russia, Spain, Turkey, UK, Azerbaijan, Norway, Brazil, Romania, Finland, Japan, New Zealand, Taiwan, Indonesia, Switzerland, Monaco, Australia, Sweden, Singapore, Portugal, Bulgaria and the US.

The US has attended the exhibition through its European agencies.

Some companies, including Germany’s Siemens and Russia’s Gazprom, were not attending Iran Oil Show in previous years due to sanctions imposed on Iran.

Iran’s success in nuclear talks with world powers that led to July deal (JCPOA) has prepared the ground for presence of the international companies in the country.

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