Senior Iranian oil official talks possible outcomes of nuclear deal

Business Materials 3 March 2018 12:26 (UTC +04:00)

Tehran, Iran, March 3

By Kamyar Eghbalnejad – Trend:

Iranian Deputy Oil Minister for International Affairs Amir Hossein Zamaninia has said that new developments may take place regarding the Joint Comprehensive Plan of Action (JCPOA/nuclear deal), therefore it is soon to speak about staying in the deal or leaving it.

“It is not a proper decision to stay in the JCPOA if the deal fails to benefit Iran’s economy and remove economic hurdles. However, we need to wait and see. New developments may take place, therefore the current situation is not a sole choice between staying in the deal and walking away from it,” the deputy minister told reporters on the sidelines of the 2nd Iran International Exploration & Production Congress & Exhibition (Iran E&P 2018).

He further touched upon the country’s oil production and said Iran’s crude output has reached about 3.8 million barrels per day and the country currently exports about 2.6 million barrels of crude and condensate per day.

Speaking about the country’s plans to sell its oil, he said there is always a sufficient number of customers and therefore Iran nowadays does not need any creativity to sell its oil.

Under the nuclear deal reached in 2015, Tehran agreed to restrict its nuclear program in return for the removal of sanctions that have crippled its economy.

Iran E&P 2018, which brings together state officials, public and private decision makers and dependent industry managers of Iran, kicked off in Tehran this morning.