That’s not the first time, Bouterfa confers Zanganeh in the Central Building of the Ministry of Petroleum in Taleqani Avenue. 

On September 3 and prior to the 15th International Energy Forum (IEF15), which was held in Algiers from September 26-28, Algerian Minister of Energy had told Zanganeh that the crude oil for 50 dollars is not acceptable and the OPEC members want a price ranging between 50 and 60 dollars a barrel. 

While voicing pleasure with his “constructive” talks with Zanganeh, Bouterfa had said links between Iran and Algeria within framework of OPEC are solid and favorable.

The Iran-Algeria ties have a long record and Iran’s post-JCPOA achievements have added to depth of the ties.

Algeria is the fourth country worldwide in terms of gas reserves and is one of the important countries north of Africa. Algeria is the biggest country in southern coastlines of the Mediterranean and the second major African state, neighboring Tunisia, Libya, Nigeria, Mali, Mauritania, Maghreb and West Saharan Republic. 

Most of the Algerian citizens are Muslims and speak in Arabic but French is also prevalent among some of its citizens. After Algeria’s independence of France in 1962, Iranian government officially recognized its independence and sent a delegation to Algeria take part in celebrations marking its independence. In October 1964, Iran established representative office in the country and sent its ambassador to the country. It served as the first step taken on Iran’s part to establish diplomatic relations with Algeria. Algeria also sent its accredited ambassador to Tehran in 1966 and eventually Algerian Embassy opened in Tehran in 1974.

Prior to his Saturday meeting with Zanganeh, Algerian Energy Minister had on Friday highlighted importance of the OPEC session in Vienna. He said visit to Tehran to consult on consensus among the OPEC members is necessary. 

He said the main source of concern in Vienna accords is Saudi Arabia because it had already announced that if non-OPEC oil producers be present in the meeting of OPEC states’ high-ranking experts, he would not be ready to attend the session.  

However, thanks to his clear-cut and transparent strategy in the Algeria session, Zanganeh managed to return to the country with remarkable achievements. Hence, alike Libya and Nigeria, Iran was excluded from the decision on non-increase in the OPEC production. Zanganeh’s strategy was in fact the result of successful consultations and engagements of the collection of Ministry of Petroleum officials.

Zanganeh had announced, “Revival of Iran’s lost share in the oil market is the national will and demand of Iranian people.” It is absolutely the main public demand in Iran after elimination of the considerable portion of tyrannical sanctions imposed on Iran for years. Iranian people expect restoration of what was unjustly and on wrong interpretations taken away from Iran after constructive engagement of former Iranian government with the world. 

The OPEC members had in their September session in Algeria agreed on cutting oil production between 200,000 and 700,000 barrels per day: It is equal to about one to two percent of the total production of the OPEC members. The OPEC members had in the Algeria session decided to fix their output at the level of 32,500,000 barrels per day. 

Reports indicate that the market is still waiting for the OPEC decision on the amount of oil production. This is while, the WTI crude price declined by more than one percent and reached 46.77 dollars.

After Algeria session, a high-committee session of the OPEC members was held in Vienna to decide on cutting production. Reuters quoted OPEC sources as saying on Tuesday that the OPEC high-ranking experts committee had ended successfully. 

The technical committee is mainly comprised of representatives of the member countries in the OPEC Board of Governors and also national representatives of any country and they report the OPEC decisions to their related ministers. No decision is made in the committee; rather, only the proposals on which members agree upon, will be presented to the OPEC ministerial meeting, which will be held in Vienna on November 30.

After meeting Zanganeh, Algerian Minister of Energy and Mines told reporters that if the OPEC members reach agreement in the 171st OPEC session, oil price will reach 50 to 55 dollars a barrel as of 2017 and 60 dollars by end of the year. 

He added that Algerian government’s proposal to cut OPEC members’ output by 1.1 million was also offered to Iranian Minister of Petroleum in the meeting. 

Bouterfa said the proposal was to be studied on Iran’s part and the sides will reach final conclusion in the 171st OPEC session. 

He referred to a proposal offered to the non-OPEC states to cut the output by 600,000 barrels and said measures should be taken to check oil price decline which has harmed the world economy. 

The Algerian minister said any failure to reach agreement, will result in oil price decline to less than 50 dollars a barrel.

Asked to what extent he was optimistic of the OPEC consensus in the Vienna meeting, he said, “We are highly optimistic that all the OPEC members will reach agreement in the November 30 session.”

He asserted that within the period left to the OPEC session, Algeria and Iran will continue coorindation and cooperation to reach final accord.

Bouterfa’s claims after meeting with Iranian Minister of Petroleum reveal positive engagement of the country with the Islamic Republic of Iran and the bright prospect for restoration of the country’s lost oil production right. 

Of course, conditions are ripe as we near the end of the current Christian year, so more hopes arise for consensus among the OPEC members in the organization’s meeting in Vienna this week. 

Iranian Minister of Petroleum announced Algeria had proposed Iran a package regarding allocation of production quota for any country. “The claims reveal that OPEC can reach a durable agreement for its production and market management.”

Meanwhile, speaking to reporters on Saturday after a meeting with Bouterfa, Zanganeh said Algerian Energy Minister had launched invaluable efforts over recent months so that the OPEC will take common stance to cut production and manage the market. 

He said OPEC indebted its Algeria accord of daily production of 32.5 million barrels per day several months ago to his efforts.  “Algerian energy minister today offered a proposal for allocation of quota for production by any country and it was carefully studied and analyzed.”

Algerian Energy Minister said, “We are to offer our view points on the proposal to the 171 OPEC regular session, which will be held in Vienna on Wednesday. General status quo and the discussions held all reveal that OPEC and reach a durable agreement for its production and market management.”

To a question whether Iran, Libya and Nigeria, which were exempted by Algeria accord from oil production cut, will continue to be exempted based on the OPEC 171st session decisions, Zanganeh said it was one of the serious topics under discussion between him and the Algerian minister.

Asked whether Iraq had extended any request to be exempted from the oil production cut decision, Zanganeh said to his information, no such a request had been offered by Iraq. 

Also quoined to what extent he was optimistic of the implementation of Algeria decision in the OPEC 171st decision, he said Algeria session decisions are welcomed by all and the topic now on the table is the quality of its division. 

Iranian Petroleum Minister’s emphasis that Algeria meeting decisions was accepted by all will block the way to any para-political games in the Algeria session’s decisions. His main strategy will continue its way, while getting engaged with the member countries and holding extensive consultations. 

Let’s not forget that when asked about his distinctive feature as minister, Zanganeh had in his TV debates during the Government Week said he will never get lost.

The 171st OPEC meeting will be held in OEPC permanent Vienna Headquarters on Wednesday. 

Translated by Behnaz H. Gholipour