Iran says it will not accept any limit to its exports of oil when the situation normalizes with the lifting of the most draconian U.S. sanctions on the country.
Oil Minister Bijan Namdar Zanganeh says rising international oil prices won’t benefit producers in the long-run as he warns against impacts of the prices on the oil production economy.
National Iranian Drilling Company (NIDC) has allocated 5.2 trillion rials (about $123.8 million) for the renovation and upgrading of its drilling rigs and equipment in the company’s operational, technical, specialized, and logistical departments.
Iranian Oil Minister Bijan Namdar Zanganeh has said his country will return to the oil market in the shortest possible time after the removal of the U.S. sanctions on the country’s oil industry, ISNA reported.
The Organization of Petroleum Exporting Countries (OPEC) in its 181st meeting in Vienna on Thursday paid tribute to Iranian Oil Minister Bijan Namdar Zanganeh for his long-lasting contribution to the organization and the oil market.
Oil Minister Bijan Zangeneh said after the 181st Meeting of the OPEC Conference that the main responsibility of the next petroleum minister is to help Iran return to the oil market and get our lost market share back which was caused by the sanctions.
Iranian Oil Minister Bijan Namdar Zanganeh, on Thursday, inaugurated numerous gas supply projects with a total investment of 63.31 trillion rials (about $1.5 billion) in six provinces through video conference, Shana reported.
President Hassan Rouhani, boasting about achievements in providing the Iranians with gas network, has said the Islamic Republic stands first in terms of gas supply throughout the country.
Oil Minister Bijan Zanganeh says the government pays almost $70b of subsidies annually for the gas and liquid fuel in the country.
the Oil Ministry will invest $80 million in startups and knowledge-based firms, the oil minister said.