"We have the capacity to produce more than 4 mb/d, but we are running the country by selling 1mb/d because our use of these resources should be appropriate so that we would take maximum benefit," Mohammad Baqer Nobakht said.
He said that Iran has defeated sanctions imposed in recent years against the country.
Iran’s petroleum minister said recently the country has brought its crude oil exports to 1.5 mb/d.
“Currently, Iran is exporting on average 1.5 million bpd of oil,” Bijan Namdar Zanganeh said in Moscow.
He said member states of the Organization of the Petroleum Exporting Countries (OPEC) would make room for Iran’s oil production, adding, “I think they will do it, I am sure they will do it. They have told me directly face-to-face that they will go along with us and make room for Iranians.”
World oil giants, including Royal Dutch Shell, British Petroleum (BP), Malaysia’s Petronas, Spain’s Repsol, Russia’s second largest oil producer Lukoil, France’s Total and Italy’s Eni, have shown interest in returning to Iran following the partial sanctions relief.
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