Iran oil

When sanctions are lifted, Iran can tap into the great potential of its naval fleet to deliver uninterrupted oil to Turkish refineries.

There is significant potential for the Japanese companies to participate in a variety of oil and gas projects in Iran, said Zanganeh after a meeting with the Japanese foreign minister.

Iran’s Oil Minister Bijan Zangeneh says Tehran will support any step to help the recovery of the oil market.

Iran says it plans to use the help of Austrian energy giant OMV to increase production at its oil and gas reservoirs.

Iran says it is ready to increase its oil exports to Spain to levels that existed before the US-led sanctions were put into place.

Iran plans $50 billion of investment to boost recovery from its shared oil and gas fields, including 700,000 barrels per day of crude, Minister of Petroleum Bijan Zangeneh says.

Iran's oil minister says the Islamic Republic is determined to reclaim its share in global oil markets once sanctions imposed on the country’s energy sector are lifted.

We are able to increase oil production by 500,000 barrels per day anytime we decide to do so, said the Iranian oil minister.

Iran has the biggest hydrocarbon reserves in the world and deems itself responsible for the world’s energy security, said Zanganeh.

Fararu, an Iranian news website, has predicted that Iran’s return to global oil markets will bring about a positive change for both producing and consumer nations.

The Iranian oil minister has said that the Islamic Republic plans to raise its oil exports after the implementation of the historic deal Iran and P5+1 clinched on July 14.

Iran’s deputy oil minister says oil exports will reach 2.3 million barrels, compared with around 1.2 million barrels a day today.

Turkey is discussing imports of fuel oil from Iran which is running a surplus of the product amid a decline in domestic consumption, local media said on Thursday.

Zanganeh said oil market stability through balanced supply and demand will remain a priority for OPEC under all circumstances.

Chinese, Indian, South Korean, Japanese and Turkish refiners have all extended their oil purchase contracts with Iran, said Ghamsari.

Iran has broken the US monopoly in production of an industrial lubricant, which is a strategic oil product, says an oil expert.

It is expected that the OPEC members provide space for an increase of Iran's oil production in the global markets, said Zanganeh.

If sanctions are removed, there’s a big chance that demand for Iranian oil will recover in Asian nations like South Korea, China and Japan, according to analysts.

The government envisages different scenarios with regard to oil prices and prepares itself for any rate, said the economy minister.

The Iranian oil chief has said that the government and its nuclear negotiators have always been under the auspices of the Supreme Leader whose “expediencies and guidance” will help rid the country of sanctions.

Farhad Nili, the director of the Monetary and Banking Research Institute, has said that an economy without oil can be envisioned for Iran.

Iran has allocated USD 15.2 billon for the development of joint oilfields with neighboring Iraq as part of the Islamic Republic’s plans to increase its oil output.

The Iranian government has devised special plans for the joint oil fields, trying to raise the country’s crude output in four years.

Iran's oil chief Bijan Namdar Zanganeh has ruled out reports that Tehran has signed a deal with Russia to barter oil for essential goods.

Consensus among all members will determine whether or not an extraordinary meeting of OPEC should be held in case global oil prices continue to drop, said the Iranian oil chief.