MOSCOW, March 14. /Corr. Elizabeth Tsaritsyn/. The head of the Ministry of energy of Russia Alexander Novak on Monday plans to hold talks in the capital of the Islamic Republic of Iran (IRI) – Tehran. The working visit is planned including to prepare for the meeting of the Russian-Iranian intergovernmental Commission, co-chaired by the head of the Russian Department.
Barrel by “freezing”: the oil market in questions and answers
Earlier, the Minister was informed that during the forthcoming visit to Tehran plans to discuss with the relevant Ministers of Iran trade, economic cooperation and joint projects in the energy sector and the oil and gas industry.
Novak was planning to meet with the Minister of oil of Iran Bizhan Namdar Zanganeh, however, according to the Minister, the topic of stabilization of crude oil during the visit, the lift was not planned. The head of the Russian Ministry believes that the participation of Iran in the stabilization of production requires an individual approach.
In mid-February of the current year in the Qatari capital Doha, Ministers of oil of Saudi Arabia, Qatar, Venezuela, included in OPEC and Russian energy Minister Alexander Novak held talks on improving the price situation on the oil market.
The parties expressed their willingness to save, on average, in 2016 oil production at the level of January of the current year, if other countries-oil producers will join this initiative. On 17 February in Tehran passed negotiations of Ministers of oil of Iran, Venezuela, Iraq and Qatar, which, in turn, discussed the possibility of “freezing” the level of oil production. Following the talks, the Iranian oil Minister Bijan Namdar Zanganeh said that Iran would support any initiative to improve the situation with oil prices.
The lifting of sanctions after the country sought to restore its market share and expects that OPEC and other major manufacturers will offer a special program of increasing production and exports.
Iran could halt oil production level of 4 million barrels per day
The other day, while visiting the construction site of a new refinery in the port city of Bandar Abbas, Zanganeh said that Iran will discuss with the largest oil producers freeze their prey only when its level in the country will reach 4 million barrels a day.
According to him, as long as the country has not reached this level of production, other countries-oil producers should leave Iran alone.
Iranian officials have repeatedly stated that they do not intend to be subjected to sanctions after having left from under them. By April of the current year in the Islamic Republic plans to increase oil production from 2.8 million barrels to 3.6 million barrels per day versus last year. By the end of March 2016 Iran is expected that oil exports of Iran will reach 2 million barrels per day.
The Iranian oil Minister also reported that the oil policy of the country would be discussed during talks in Tehran with Russian energy Minister Alexander Novak on Monday, March 14.
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