Petroleum Minister: Iran abides by oil contracts

EghtesadOnline: In the inauguration ceremony in South Pars Oil and Gas Field in Asaluyeh, Bushehr Province, on Saturday, Minister of Petroleum said Iran abides by all its oil contracts.

News ID: ۷۴۰۹۸۰

16 April 2017

Petroleum Minister Bijan Zangeneh said, “We are not after conflicts with any country and don’t worry about our oil sale, because the demand for Iranian oil is more than supply and we are ready to compete with others in accordance with global oil trade principles.'

According to IRNA, Zangeneh said, “We do comply with our obligations; some secondary sources announce that Iran produces 3.8 mb of oil per day, but in reality it’s more than this.”

Referring to the measures taken by OPEC, he commented, “When the price is stabilized at $55, we can say that the measures have been successful and most of the OPEC members have met their commitments. Iran, too, abides by its commitments as long as the other members do.”