6 August 2021 - 16:06
  • News Code: 319454
Zangeneh Voices Iran Full Readiness to Return to Oil Market

TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh announced the country’s full technical readiness to return to the global crude oil markets at the highest level after the political agreement and the lifting of the sanctions.

In a Friday meeting with Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Mr. Zangeneh stated that after the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) back in May 2018, Iran lost about 2 billion barrels of oil exports, an equivalent of roughly $120 billion.

Noting that OPEC is the only third world economic organization influential in world economic interactions, he said: “The key concept that OPEC has been able to act on and succeed has been cooperation while competing and political differences, as we saw in the recent meeting and dispute between Saudi Arabia and the UAE.”

For his part, the OPEC Secretary General praised Zangeneh's work and actions during his tenure, and said that all OPEC ministers remembered him well, adding: "We hope that Iran will continue its key and important role in OPEC and the oil market."

Addressing Zangeneh, he said: “You are a valuable asset for Iran and you have done well in these four decades due to the difficult conditions in Iran. OPEC will always remain your home.”

At the end of the meeting, OPEC Secretary General presented Mr. Zangeneh with an album of his photos from the beginning of his presence in OPEC.

News Code 319454


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