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Iran aims to regain its share in world oil market

Business Materials 1 September 2015 17:42 (UTC +04:00)

Baku, Azerbaijan, Sept. 1

By Fatih Karimov - Trend:

Iran's Oil Minister Bijan Namdar Zanganeh has once again stressed that his country's number one priority is to regain Tehran's share in the world oil market.

"The regaining of Iran's lost share in world's oil market is a principle of vital importance for us," Mehr News Agency quoted the Iranian minister as saying on September 1.

Iranian production climbed by 50,000 barrels a day to 2.9 million in August, the highest since July 2012, when more sanctions were imposed on the Islamic republic to curb its nuclear program.

Addressing a meeting of government ministers by Iran 's Supreme Leader Ayatollah Ali Khamenei, Zanganeh noted that talks were under way with new buyers and the country was preparing for the post-sanctions period.

The Iranian minister further said that Tehran daily imports almost 7-8 million liters of gasoline.

It should be noted that gasoline consumption amounted to 71.4 million liters on average per day in spring, compared to 69.4 million liters in spring 2014.

The Islamic Republic only imports Euro-4 gasoline currently.

Edited by CN

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