7 September 2015 - 13:24
  • News Code: 246501
Iran Planning Pre-Sanction 200k b/d Crude Export to Spain: Official

TEHRAN Sept 07 (Shana) – Iran has taken measures to regain its pre-sanctions crude oil export of 200,000 barrels per day to Spain, an official in the Ministry of Petroleum said.

“Negotiations have been underway with the Spanish firms prior to the Monday’s ministerial meeting, but the figure has not been fixed,” Director of International Relations at the Iranian Ministry of Petroleum Mohsen Qamsari told Shana on the sidelines of the meeting between Iranian Petroleum Minister Bijan Zangeneh and visiting Spanish Industry, Energy and Tourism Minister Jose Manuel Soria in Tehran.

“It depends on the conditions in the wake of removal of sanctions,” he added, “But it is possible to reestablish the pre-sanctions quantity.”

He said Iran intends to diversify its oil export markets after raising production by 500 thousand barrels which will include pre-sanctions European consumers as well as current Asian buyers.

Following the ministerial meeting, Zangeneh said Spain has expressed readiness to re-export Iran’s gas to Europe via its LNG terminals which will be negotiated between the two countries’ companies.

“Spain is interested in cooperating with Iran in the development of oil, gas, petrochemical, and refining areas as well as construction of equipment and energy optimization projects which are among our plans in the industry,” he added.

An executive of major oil firm Repsol accompanied the Spanish minister in the talks between Zangeneh and Soria. Soria and a delegation of Spanish businesses are scheduled to hold talks with their official Iranian counterparts as well as Iranian business people in Iran.

European countries are looking for lucrative investment opportunities in Iran that could be unlocked by the nuclear deal in the post-sanctions period.
News Code 246501

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