Irannews reports that Mr. Zangeneh, oil minister, will deliver a lecture to a Conference themed ‘Towards Leadership at Global Level: Priorities of Gas and Energy Industry’ on Wednesday (October 2) which is part of Russian Energy Week slated to be held for four days from October 2. Russian Energy Week is an exhibition focusing on […]
Irannews reports that Mr. Zangeneh, oil minister, will deliver a lecture to a Conference themed ‘Towards Leadership at Global Level: Priorities of Gas and Energy Industry’ on Wednesday (October 2) which is part of Russian Energy Week slated to be held for four days from October 2.
Russian Energy Week is an exhibition focusing on analysis of global energy trends held in Moscow each year.
Last year, Russian media announced oil minister Zangeneh’s visit to Russia during Energy Week, but, it did not happen at all and he visited Moscow after the schedule.
Talks with Russia about Energy and oil industries goes on regularly. Russia, one of the suppliers of oil and energy is also a large consumer of energy and has always been in a partnership with Iran’s industries.
Russia is willing to step in to help Iran export its oil while the Middle Eastern country is struggling to keep the oil flowing while pressured by sanctions levied by the United States.
Iran’s budget counts on raking in around $30 billion from oil and gas condensate exports.
Iran was holding out hope that Europe would have its Instex European payment system in place that would allow Europe to continue purchasing Iranian oil, but the system is not yet running, leaving Iran in tight spot when it comes to getting its oil out of country.
Russia, however, is happy to help, Russian Deputy Foreign Minister Sergei Ryabkov said on Friday according to Reuters. It would also be willing to help with Iran’s banking sector as well, as Iran is finding it difficult to process payments.
If Russia’s help is successful, Iran would be able to export substantial amounts of oil to Europe, Russia would be able to export more gas to the EU, and Europe would be able to purchase both low-cost oil and gas.
- source : irna, irannews
