18 September 2019 - 13:44
  • News Code: 293280
Selling Oil not Easy but Efforts Continue Nonstop: Iran

TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh says selling oil is not easy for the country, adding, “We, however, would never cease to try.”

According to IRNA, Zangeneh told reporters on Wednesday that oil is a general and staple commodity for the humanity which should be freely traded in the market.

Speaking on the sidelines of a government cabinet meeting in Tehran, he said the US has long been seeking to replace Iran’s oil with that of Saudi Arabia and also tap its shale oil reserves which could be one of the reasons for imposing sanctions on Iran’s oil.  

Regarding the involvement of Russian and Chines companies in Iran’s oil and gas projects, Mr. Zangeneh said, “The Russian’s have performed better and the Chinese do not display much action.”  

South Pars

He further said that Iran’s gas recovery had exceeded that of Qatar in South Pars joint gas field. “Iran’s gas recovery from this gas field has been ahead of Qatar for a while now and is growing.”

He said production growth in the field would continue on the Iranian side and efforts were being made to bring Iran’s production capacity from the field to 750 mcm/d.  

Also touching on the drone attacks against Aramco oil facilities in Abqaiq and Khurais, Zangeneh said: “This is a short-term issue and will have short-term impact which will involve everyone.”

The attacks are said to have cut Saudi oil supplies by almost a half, curtailing production by 5.7 mbd or roughly 5% of the global supply.  

He said oil was not a weapon and must not be used as such. “They are in fact concerned with supply security; an issue which Iran had raised long before; what we are saying is that in order to ensure supply security and the interests of both consumers and producers, oil must not be used as a weapon.”

News Code 293280


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