Baku, Azerbaijan, May 6
By Fatih Karimov - Trend:
Iran's oil minister called on crude oil producers to make room for further Iranian oil export in post-sanctions era.
Oil Minister Bijan Namdar Zanganeh said that Iran's oil export has increased by 60 percent since "crucial international sanctions" against the country was imposed (in mid-2012) and oil producers should make room for Iranian oil export resumption after sanctions are removed, Shana reported on May 6.
Iran and P5+1 (the U.S., UK, France, China, Russia + Germany) are negotiating to reach a comprehensive nuclear deal by June 30 to pave the way for elimination of the sanctions.
Remarking on the OPEC crude oil production level, Zanganeh said that none of OPEC members are satisfied with the current oil prices and most of members don't want to continue the current situation (production level).
OPEC members didn't change the 30-million barrels per day ceiling during a meeting in last November, a step that accelerated oil price plunge.
OPEC oil basket price was about $108/barrel in the first half of 2014, but currently the figure is a little more than $62.
Iran's oil export during the pre-sanctions time was about 2.5 million barrels per day (mb/a), but the figure currently stands at around 1.1 mb/d.
OPEC has increased production level for second consecutive month in April to above 31 mb/d.
Zanganeh also defended having Russia join OPEC as its 13th member, saying that while Saudi Arabia defends Angola in becoming an OPEC member, why shouldn't Russia join OPEC?
Executive chairman at Russian oil giant Rosneft, Igor Sechin said Feb.10 that Russia can't and won't join the Organization of the Petroleum Exporting Countries (OPEC) as long as the oil group operates the industry through government-controlled companies.
Edited by CN