7 May 2018 - 16:10
  • News Code: 282606
NIOC Well-Placed to Sell Oil under Sanctions: Official

TEHRAN (Shana) -- A senior Iranian oil official said Iran’s state-run oil company (NIOC) has mastered methods and mechanisms to sell the country’s oil after 4 decades of being targeted by sanctions.

Addressing a press conference on the sidelines of Iran oil and gas show on Monday, Amir Hossein Zamani-nia, deputy petroleum minister for international affairs and trading, said the international department of the NIOC has mastered effective mechanism to sell Iran’s oil and “has creatively preserved them after four decades of being targeted by the sanctions.”

“Today, the countries with more oil production capacity enjoy more power,” he said.

Likewise, the official reiterated, Saudi Arabia joining the US against Iran could cause trouble for Tehran. “However, the international affairs department of the National Iranian Oil Company (NIOC), during four decades of sanctions, has been able to master effective methods and mechanisms for preserving the country’s market.”

He described the US and Saudi Arabia's efforts in the oil industry to seize Iran’s markets as “oil war”, and said: "It is likely that the Organization of Petroleum Exporting Countries (OPEC) will discuss the balanced price of oil at its upcoming meeting.”

"Given the current state of Iran's position in OPEC, we are to wait, but we normally support OPEC's decisions, but we always prioritize our oil sales," he said, emphasizing that Saudi oil officials have always been offering mischievous discounts and diversions to seize Iran's oil market share.

Asked about the state of Iran-Azerbaijan energy talks, he said the two countries have recently signed a deal to developed two join fields, one of which decided to be developed jointly by both countries.

News Code 282606

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