Baku, Azerbaijan, Apr. 5
By Umid Niayesh - Trend:
Iran is unlikely to recapture its lost share of the oil markets shortly after lifting the sanctions, Mohsen Ghamsari, director for international affairs at the National Iranian Oil Company said.
He expressed hope that taking back the lost share would be possible in medium term.
"Even if the sanctions are really removed, recapturing the market would not be easy for the Islamic Republic," Ghamsari said, Iran's Fars news agency reported April 4.
Iran's crude oil export was above 2.2 million barrels per day (mb/d) in 2011, but the western sanctions imposed in mid-2012 have pushed Iranian oil export volume to around one mb/d in 2013.
After achieving an interim nuclear agreement in November 2013, Iran's oil export increased steadily to around 1.11 mb/d, however, the volume slightly decreased during the recent months again.
Ghamsari further said that the European countries were traditional buyers of Iranian crude oil, adding if the sanctions are really removed seriously they can buy again Iran's oil.
Some European countries have expressed willingness to buy Iranian oil, the official said without disclosing further details.
Iran is currently selling oil to China, India, Japan, South Korea, Taiwan and Turkey.
Tehran and P5+1 (the US, UK, France, Russia, China, and Germany) reached a political framework for the ongoing nuclear talks on April 2.
The sides are to reach a comprehensive deal by July 1, in which Iran would restrict its nuclear program to some extent as demanded by the powers, and in return, the international sanctions on the Islamic Republic's economy would be lifted.
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