Bijan Zanganeh deemed increased oil exports as Iran’s first priority after the lifting of sanctions; “the exports volume needs to reach a greater amount than before the time of international sanctions,” he asserted.
Certain news resources had recently announced that Iran plans to offer large discounts on its crude.
“A total of 500 thousand barrels will be added to the volume of oil production in the first few days after the removal of sanctions while a similar amount will be added by the end of the current Iranian calendar year (March 19, 2016),” Zanganeh added.
He further noted that “Iran’s oil exports will double if we increase the country’s production capacity by one million barrels; “the sharp decline in oil prices will mostly harm countries which have collected Iran’s share in the market,” asserted oil minister.
“Some countries forced us out of the global market and we won’t hesitate to return to the market immediately after sanctions removal,” underlined Zanganeh adding “we need to regain our share in the market in order to avoid the need to ask OPEC countries to make room for Iran.”
