Minister: Iran intends to fall by half to increase oil exports

Minister: Iran intends to fall by half to increase oil exports


After the sanctions the country will increase daily deliveries of oil on 500 thousand barrels, and after six or seven months – in-a-million, said the Minister of oil of Iran.

MOSCOW, 17 Jan. Iran after the lifting of sanctions is planning to regain its former position in OPEC and in the international market and the fall to increase crude oil exports to two million barrels per day, IRNA Agency reports referring to the Ministry of oil of the country.

During the sanctions, Iran has exported approximately 1 million barrels of oil per day, mainly in China, India, Turkey, Japan and South Korea.

“We are confident that shortly after the sanctions are lifted, we are able to increase daily deliveries of oil on 500 thousand barrels, and after 6-7 months will increase exports to one million”, — quotes the words of the Minister of oil of Iran of Bijan Namdar Zanganeh Agency.

On Saturday, the country’s IAEA received the final report of the experts of the Agency on Iran’s nuclear program, leading up to the inauguration of its implementation. The EU and the US confirmed the removal from Iran of economic and financial sanctions related to its nuclear program.

Iran and “six” on the night of July 14, reached a historic agreement on the settlement of the longstanding problem of the Iranian atom. Lengthy negotiations culminated in the joint comprehensive plan of action, which will completely withdraw from Iran’s previously imposed economic and financial sanctions by the UNSC, U.S. and EU in exchange for the verification of the peaceful nature of Iran’s nuclear program.