7 April 2014 - 11:07
  • News Code: 214586
Iran Bent on Boosting Oil Exports, despite Sanctions

TEHRAN April 7 (Shana)--Iranian Petroleum Minister said Monday the country is intent on raising the level of its oil output and increase oil exports, saying it "will readily tap all the resources to sell more oil despite sanctions".

Bijan Namdar Zanganeh told Shana that the Islamic Republic would not await a US nod for enlarging its petroleum exports and has so far developed immense schemes to that effect.

The senior official further noted Iran's cosmic potentials in petroleum production, and said sanctions fall short of restricting Iran's progress on the petroleum industry. 

"We are hoping to see sanctions shrink, however, we assume the harshest circumstances and draw up our roadmap assuming that sanctions will not be altered," added Zanganeh. 

Official statistics indicate that Iran produced 2.8mb/d of crude oil during the first five months of the previous colander year 1392 (which ended on March 20, 2013).

Zanganeh said he is optimistic about Iran being able to produce over 4.2mb/d during the current calendar year and maintain its OPEC share.   

News Code 214586

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