Tehran, Iran, August 4
By Mehdi Sepahvand -- Trend:
The Iranian oil minister has unveiled a seven-day plan for post-sanctions oil sales, stating that even in case oil prices fall, Iran's oil revenue would not diminish.
Iran's oil production will increase to some point between 3.8 million to 3.9 million barrels per day, Bijan Zanganeh said in a press conference, Mehr news agency reported August 4.
Referring to increase in oil output by some OPEC members, Zanganeh said he has had some correspondence with OPEC Secretary General Abdalla Salem el-Badri, and noted that the world oil body usually acts wisely in critical situations.
Iran's oil revenue in the worst situations will remain as it is, while the countries which have recently boosted their oil output will suffer billions of dollars, he warned.
Iran's current oil production stands at about 2.7 million barrels per day.
There are three main sanctions on the Iranian oil sector which the country expects to be removed, including the transfer of petrodollars, providing oil tankers, and insuring the tankers.
The sanctions are to be removed following a deal between Tehran and world powers which was made on July 14.
Iran is planning to increase its oil export from one million barrels a day to 1.5 million in the course of seven days once the sanctions are lifted.
After that, the country will increase its export to two million barrels per day during the course of a six-month program.
Edited by CN