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Iranian President Hassan Rouhani on Sunday officially launched four new phases of South Pars, the world’s largest gas field located in the Persian Gulf in southern Iran.
Iran has vowed to give a crushing response to any move by the Israeli regime to block the Islamic Republic’s oil exports.
Commander of the Islamic Revolution Guards Corps (IRGC) Navy Rear Admiral Ali Reza Tangsiri said as long as Iran is able to export its oil via the Strait of Hormuz, the waterway would be open.
Iranian President Hassan Rouhani on Monday inaugurated the third phase of the gas condensate plant of the Persian Gulf Star Refinery in Bandar Abbas.
In spite of US sanctions to bring Iranian oil exports to zero, statistics show that in the first nine months of the current Iranian year, the Islamic Republic has managed to yield $6.5 billion from crude oil sales, up 48.9% year-on-year.
The 15th edition of the Kish International Energy Exhibition will open on Iran’s southern island of Kish on Monday with representatives of 11 foreign countries in attendance.
Iran is currently scouring 60 percent of its total area for new oil and gas reserves, including in places which were deemed until recently the least likely to have hydrocarbon-bearing formations.
Iranian President Hassan Rouhani has warned the United States that if the Islamic Republic is not allowed to export its crude oil, then no other country will be able to do so from the Persian Gulf.