MOSCOW, March 14. In the Kremlin prefer not to comment on the purpose and the course of the visit of the head of the Russian Ministry of energy Alexander Novak in Iran, which plans to hold talks in Tehran with Ministers of Iran trade, economic cooperation and joint projects in the energy sector and the oil and gas industry.
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Novak received Iran’s agreement to “freeze” the oil production level to 4 million barrels per day
Iran was willing to freeze oil production after reaching 4 million barrels a day
Iran believes the price of $70 per barrel of oil is acceptable, but is ready to decrease
Energy Minister Alexander Novak will hold talks in Tehran
“Waiting for the results of the work of the Minister in Tehran,” said the President’s press Secretary Dmitry Peskov, answering the question put whether the Kremlin before Novak’s task to discuss the freezing of Iran’s oil production at a certain level.
As reported earlier, Novak had planned 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.
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.
Barrel by “freezing”: the oil market in questions and answers