Iran is ready to double its oil exports within three months after the lifting of sanctions

Iran is ready to double its oil exports within three months after the lifting of sanctions


In case of removal of sanctions Iran is anxious to increase exports to 500 thousand barrels a day and another 500 thousand in the next three months, said the first Deputy Minister of industry, mines and trade Mojtaba Khosrowtaj.

MOSCOW, 18 Nov. Tatyana Kalmykova. Iran ready to increase oil exports by half, to 2 million barrels a day within three months after the lifting of sanctions, said in an interview with first Deputy Minister of industry, mines and trade of Mojtaba Khosrowtaj.

The Agency is confident that the oil embargo would be removed from Iran in mid-December-early January 2016.

“We do not accept the version of the gradual lifting of sanctions, we have stated that all sanctions should be lifted simultaneously. And when I say that in mid-December and early January, the sanctions will be lifted, I mean not just banking. We already have prepared for that. We are ready to start exporting oil as soon as sanctions are lifted,” said he.

Khosrowtaj explained that Iran is a OPEC member and before the introduction of the oil embargo, the country had a quota of 4.3 million barrels of oil.

“Before sanctions we produced 1.8 million barrels of oil per day for domestic consumption and 2.5 — export. Currently we export about 1 million barrels a day, and we are fully prepared immediately after the sanctions are lifted, add another 500 thousand barrels of oil to add to the export. And within a few months, maybe three, we can add another 500 thousand barrels per day,” added the Deputy Minister.

Earlier, Minister of energy Alexander Novak said that in entering the Iranian market such oil and gas interest of the company as the Russian “Zarubezhneft” and “Gazprom Neft”, “Gazprom” and others.

The EU imposed an embargo on imports of Iranian oil, which entered into force on 1 July 2012 in order to force Tehran to abandon its nuclear ambitions. A similar package of measures previously introduced and Washington.

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