Wednesday, April 17, 2024

Iranian oil minister says Tehran ready to meet Europe’s energy needs in winter

Iran’s Oil Minister Javad Oji says the Islamic Republic has a good capacity to produce oil and gas and their commodities and is thus capable of partly relieving the energy shortage in the world.

Oji said energy prices are out of control in the world and big petrochemical companies in a country like Germany are on the cusp of shutdown for this reason.

Oji also referred to the jump in the price of gas in Europe, saying gas has reached the unprecedented price of 3 dollars per cubic meter and it is projected that it will further rise by another 60 percent.

The Iranian oil minister added that under such circumstances, Iran is ready to partly meet the needs of European countries.

Oji however said the Europeans themselves wronged their people.

He went on to say that energy importers face a difficult winter this year.

Oji then spoke about the surge in Iran’s energy exports. The oil minister said the Islamic republic’s gas condensate sales have reached a daily record of 230,000 to 240,000 barrels in the Persian year of 1401 while it was 7,000 barrels per day in the early days of the administration of President Ebrahim Raisi.

He said the oil ministry started marketing activity to boost sale of oil and gas condensate from day one of the Raisi administration.

Oji added that Iran managed to achieve this goal by diversifying oil and gas sale contracts and through high precision marketing.

The oil minister noted that Iran managed to find good customers in Latin America, Asia and even Europe for the country’s oil and gas condensate.

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