“Iran’s crude oil has its buyers. As soon as the sanctions are withdrawn, we will not wait and will do our utmost to boost its export,” Mansour Moazami told Shana.
“It was wrong to remove the quotas in OPEC. Saudi Arabia, Iraq and other crude exporters must respect Iran’s position in the market,” he added.
Moazami also rejected reports that Iran’s output during President Hassan Rouhani’s term in office has decreased in the last two years and said, “Although the sanctions had reached their climax, the production has been on a rising trend.”
Last week, he said Iran will win back its quota in the global oil markets by doubling the current output to 2 million barrels per day within six months after sanctions are lifted.
“It is our estimate to increase the export output by 500,000 barrels per day within the shortest possible time after sanctions’ removal, and to further raise it for another 500,000 barrels within six months,” he added.
Moazami, who is also head of energy committee of the Tehran Chamber of Commerce, said Iran is pushing to regain its quota of 14.2 percent within OPEC and later to increase its share in the global market.
Iran was OPEC’s second-biggest producer before US-led sanctions banned its customers from purchasing, transporting, financing and insuring of its crude in mid 2012.
Iran’s output can increase by 500,000 barrels a day within a week after sanctions end and by 1 million barrels a day within a month following that, Petroleum Minister Bijan Zangeneh said in a televised interview last month.
Your Comment