14 June 2014 - 14:32
  • News ID: 219221
Iran Oil Output Up as Nuclear Talks Go On

TEHRAN June 14 (Shana)--Iran’s President Hassan Rouhani said on Saturday the country’s oil production has increased as talks are under way with world powers over Tehran’s nuclear program.

“As negotiations go on with the P5+1 group, Iran’s oil production capacity has increased and this issue has nothing to do with the [Western] sanctions,” Rouhani told a press conference in Tehran.
The president said Iran is now ready to attract 200 billion dollars in investment, adding that Iran’s oil sector enjoys great potentials for such investment.
Rouhani also said that Iran would no longer face tough sanctions even if no agreement is reached with the six powers.
“Iran will continue enrichment... and the sanctions have to be lifted,” he said.
Rouhani said his administration is making efforts to cut Iran’s inflation rate to 25 percent by the end of the current calendar year in March 2015.
He said the jobless rate has been reduced to 10.5 percent and month-on-month inflation has been slashed from 43 to 16 percent.
 Iran’s Petroleum Minister Bijan Namdar Zanganeh said recently that the country plans to increase crude oil production by 700,000 b/d.
“The Petroleum Ministry’s first program is to increase crude oil and gas condensate [production] capacity. To that effect, crude oil production should increase by 700,000 b/d,” the minister told lawmakers.
Zanganeh said Iran’s oil production will reach 5.7 mb/d in three years, up 2.5 mb/d from now.
News ID 219221

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