Iran has right to boost oil output

Iran has right to boost oil output

Tehran, Iran, Feb. 17

By Mehdi Sepahvand - Trend:

Iran's former representative at the Organization of Petroleum Exporting Countries (OPEC) Mohammad Ali Khatibi told Trend Feb. 16 that Iran is an exception among other global producers that are set to freeze oil production.

He said those who increased their output and created the glut in markets should cut production to support prices.

As Russia and OPEC's major producer Saudi Arabia agreed to freeze oil production at the January levels, Iran has announced that it wouldn't abandon its oil output growth plan.

"Iran will never ignore its share in global oil markets," Shana news agency quoted Oil Minister Bijan Namdar Zanganeh as saying Feb. 16.

Beside Riyadh and Moscow, Doha and Caracas also announced on Feb. 16 during a meeting in Qatar that they agreed to freeze output at the January levels if other major exporters follow the suit.

Khatibi also said that unlike other producers, Iran's oil output has decreased since 2011 due to sanctions.

"Iran has the right to increase its oil output to the pre-sanctions level," he added.

Zanganeh earlier also said, "We heard the meeting of four oil producers in Qatar and their agreement to keep the production level at the January levels, but their decision should be discussed and their goals should be clarified."

Iran was exporting 2.2 million barrels per day of crude oil in 2011, but the volume plunged to around 1 million barrels per day after sanctions.

"The first important thing is that the glut in markets should be removed and the second is that Iran will never refuse to resume its share in markets," he said.

Zanganeh added that Venezuela and Iraq's oil ministers would visit Tehran to discuss the issue on Feb. 17.

The country increased the figure to about 1.4 million barrels per day in January this year and has planed to boost the volume to 2 million barrels per day after March.

Iran says it will increase the oil output by 0.5 million barrels per day in H1 2016, and add the same volume to production level by the end of the current year.

Italy lowers import of Turkish cars
Italy lowers import of Turkish cars
Gas exports from Azerbaijan to Turkey significantly up
Gas exports from Azerbaijan to Turkey significantly up
Demand for Turkish clothing in Georgian market declines
Demand for Turkish clothing in Georgian market declines
Loading Bars
Latest
Uzbekistan to be supplied with Russian coronavirus vaccines
Uzbekistan, Tajikistan to maintain Uzbek energy and water resources balance
Azerbaijan’s Bakcell preparing discounts for teachers within project
UK study shows rapid test has diagnostic sensitivity over 99%
Kazakhstan's grain export volume revealed
Amazon hiring 150 employees in Israel
Baku Higher Oil School on top of grade ranking among universities in Azerbaijan
Mortgage lending via state line in Azerbaijan up
Russia leading exporter of polymer products to Turkmenistan
Volume of deposits up in Georgia
September occupancies up in Georgian regional hotels
Kazakhstan, Azerbaijan strengthening co-op in medical tourism
Rates of dollarization on loans and deposits up in Georgia
Volume of deposits in Azerbaijan grows
Russia increases exports of frozen vegetables to Turkmenistan
Bakcell talks about network congestion and secure internet
Azerbaijani banks increase lending to clients
Iranian government is modernizing agriculture in Tehran Province
Italy lowers import of Turkish cars
Loans and deposits, expressed as percentage of GDP, increase in Georgia
Netherlands increase export volume to Kazakhstan year-on-year
Georgian hazelnuts exports up
Azerbaijan's Anglo Asian Mining reveals 1H2020 income
Several industrial projects to be implemented in Kazakhstan's Almaty
Azerbaijan's Azexport portal to place insurance services
Sooner Armenia withdraws its armed forces from the occupied territories of Azerbaijan, sooner the conflict will be resolved (PHOTO)
Moscow reports 1,560 new coronavirus cases, highest since June 12
Azerbaijani schoolchildren perform successfully at 32nd International Olympiad in Informatics (PHOTO)
Azerbaijan confirms 137 more COVID-19 recoveries
ADB: Developed capital markets enhance financial stability in Azerbaijan
Covid-19 daily infections swell 12% to new record
Energy efficiency to be increased at Uzbek manufacturing enterprises
Shell books tanker to load crude at Libya's Zueitina oil port
Turkmenistan’s Oil Refineries extends tender for gasoline purchase
Kazakhstan's QazTech Ventures to fund Uzbek startups
Gas exports from Azerbaijan to Turkey significantly up
VTB Bank, Entrepreneurship Development Fund of Azerbaijan issuing loans to businesses
Azerbaijani FM receives ambassador of Greece
Vietnam interested in import of Azerbaijani products
EU working with Georgian partners to strengthen cybersecurity in country
Azerbaijani ministry talks introduction of contactless payment in public transport in districts
Central Bank of Azerbaijan to hold deposit auction
Azerbaijan discloses data on tobacco exports for 2019
BP: Oil demand to remain central part of energy system for next 10–15 years
Azerbaijani MP: Armenia resettling terrorists to Nagorno-Karabakh region, facts prove ASALA's presence
Apple says has always abided by Irish law as EU appeals court ruling
Precious metal prices in Azerbaijan up again after decline
Iran assigns housing units to low income
Money supply increased in Uzbekistan
Uzbekistan to export fuel diesel to Pakistan
Georgia reveals volume of premiums attracted by insurance companies
UN highlights Azerbaijani president’s speech at 75th session of UN General Assembly
Kazakhstan's largest oil pipeline company to buy power stations via tender
LNG demand to double over next 20 years
Volume of gas production by Turkmenistan’s Lebapgazchykarysh revealed
Expert talks putting Azerbaijan's domestic tourism back on its feet
Deputy FM: Rejecting proposals to resolve conflict, Armenian leadership makes negotiations meaningless
Road in border village of Azerbaijan’s Gazakh district being overhauled (PHOTO)
Israeli politician: We find Azerbaijan a good friend of Israel
Around 6,000 people internationally wanted by Russia
Buffett-following investment trust to list in London
EU Special Representative: EU has strong interest in peace, stability in South Caucasus
Georgia reports 265 new cases of coronavirus
Instagram fixes breach found by Check Point
US’ share in Azerbaijan's total imports grows
FAO provides strategic support for Uzbek Agriculture Ministry
Conference of the People’s Council of Turkmenistan was held at the high organizational level
Italian geopolitical analyst: Mechanism needed for implementation of UNSC resolutions on Nagorno-Karabakh conflict
Turkmenistan to expand areas for growing crops
Azerbaijani oil prices down
Georgia, Azerbaijan united by energy and transport projects of international importance
President Ilham Aliyev receives EU Special Representative (PHOTO)
Chairman Israel Empowerment Lobby: Azerbaijan tolerates all religions
Electronic Water Portal launched in Azerbaijan (PHOTO)
Agro Service: Azerbaijan has no shortage in fertilizers
Сoordinated fake news attacks on Azerbaijan debunked (PHOTO)
Georgia takes part in high-level Open Government Summit together with world leaders
Belarus raises goods export to Azerbaijan
Georgia hosts Cyber ​​Security Forum
Demand for Turkish clothing in Georgian market declines
Turkmenistan working to improve transport macrostructure
Azerbaijani Ambassador presents his credentials to President of Mexico
Georgia to start producing anti-hail nets for orchards
German export expectations hit highest level since October 2018
President Ilham Aliyev: Non-fulfillment of Security Council resolutions undermines prestige of UN
Irish foreign minster says EU-UK trade deal breakthrough possible
Overhaul of Azerbaijani 'President Heydar Aliyev' tanker completed
Azerbaijani president: Aim pursued by Armenia to maintain current status-quo of occupation, to annex occupied territories
Azerbaijani president: We have credible information about presence of Armenian ASALA terror organization on occupied territories
President Ilham Aliyev: Illegal presence of Armenian armed forces in occupied lands of Azerbaijan remains major threat to regional peace, security
Import of Turkish-made chemicals by Turkmenistan declines
Vaccine against COVID-19 could give boost to oil prices
Turkmenistan to provide additional benefits to healthcare workers
Moscow authorities recommend people over 65 stay home due to increased COVID-19 incidence
UAE, Israeli cyber chiefs discuss joining forces to combat common threats
Singapore August manufacturing surges 13.7% year-on-year, beats forecasts
Armenia violates ceasefire with Azerbaijan 61 times
Azerbaijani currency rates for Sept. 25
Pakistani expert: Armenia - country where Islamophobia perceived as state policy
Turkmenistan to increase volume of credit funds for dev’t of industrial sectors
All news