16 May 2014 - 13:20
  • News Code: 217498
Iran Bent on Winning Back Int’l Oil Status

TEHRAN May 16 (Shana)--Iran’s Petroleum Minister Bijan Namdar Zanganeh said on Thursday that the country is making efforts to win back its influential position in world markets.

“Iran is seriously looking for achieving a position measuring up to its oil and gas reserves in the international arena,” he told an international energy conference in Moscow on Thursday.

He said Iran holds 157 billion barrels of crude oil in place as well as 34 trillion cubic meters of natural gas, adding that Iran sits atop the world’s largest hydrocarbon reserves.

Zanganeh said Iran is facing the challenge of low productivity in the energy sector. “This problem is partly rooted in the domestic pricing of energy carriers. Certain measures are under way to change these conditions,” he said.

The minister added that Iran has to acquire the state-of-the-art technology in order to boost its energy efficiency.

Zanganeh said Iran’s Petroleum Ministry is focusing on boosting the quality of oil and gas production, renovating refineries and slowing energy consumption and production of pollutants through energy efficiency projects.

The minister said Iran’s energy mix comprises natural gas (70 percent) and liquid oil products (30 percent).

He said Iran is among the least pollutant energy holders.

Zanganeh said energy producers and consumers have to exercise constructive interaction in order to allay concerns.

“It seems that the utilization of modern technologies for extracting unconventional resources like shale gas and deep hydrocarbon reservoirs have caused anxieties with regards to energy security,” he said.

Zanganeh said the challenge of long-term and secure energy supply has yet to be resolved.

The minister also said that political sanctions and oil embargos would only reduce the diversity of oil and gas supply sources. 
News Code 217498

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