6 June 2022 - 17:10
  • News Code: 457807
Busy Days of Oil Minister in Baku

TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji, who left Tehran for Azerbaijan on Wednesday (June 1st) to attend the 27th Baku Energy Forum and the 27th Caspian International Oil and Gas Exhibition (Baku Energy Week), returned to Tehran on Saturday (June 4th). During this four-day trip, the Minister of Petroleum left behind busy days.

** On the first day of his visit to Azerbaijan (Wednesday, June 1), the Minister of Petroleum discussed with Shahin Mustafaev, Deputy Prime Minister of the Republic of Azerbaijan, the increase of the swap volume from Turkmenistan and cooperation in the development of hydrocarbon resources in the Caspian Sea. In this meeting, considering the responsibility of the Ministry of Petroleum in the joint commission with Russia, some key issues such as activating and removing barriers to the North-South corridor and removing barriers to trade between Iran, Azerbaijan and Russia and facilitating banking relations and the use of national currencies were discussed.

** On the second day of his stay in Azerbaijan (Thursday, June 2), Javad Owji attended the 27th Baku Energy Forum and addressed ministers and representatives of about 30 countries, saying that the imposers of sanctions thought that sanctions could hinder development and progress, but the bans has turned out to be a double-edged sward that harms the imposers of the sanctions as well. "The world is thirsty for energy, and Iran can meet some of that need," he said.

** On the same day, the Minister of Petroleum participated in the 20th meeting of the ministers of oil and energy of OPEC and non-OPEC (OPEC+) producers from the Iranian Embassy in Azerbaijan via video conference. Javad Owji, after the end of the 11-minute meeting that led to the agreement on increasing 648,000 barrels of daily supply in July, said: “I believe and I need to emphasize once again that the world oil market is such that the return of Iranian oil to the market can significantly meet the needs of customers and create a balance and calm in global markets, especially as the summer and travel season begins in Europe and the United States.”

** The third day of Owji's presence in Baku was one of the busiest. On Friday (June 3), Javad Owji signed a memorandum of understanding with the Minister of Economy of the Republic of Azerbaijan Mikayil Jabbarov to increase the transfer of Turkmen gas from Iran to Azerbaijan. According to the memorandum, the two sides agreed to double the annual volume of gas transported by Turkmenistan to the Republic of Azerbaijan via Iran. This contract is volumetric and Iran removes part of the transit gas as swap fee.

** The Minister of Petroleum also held talks with the Minister of Energy of Azerbaijan Parviz Shahbazov on Friday. In this meeting, Owji expressed the policy of the 13th administration to develop relations with its neighbors, and said: "The development of energy relations between the two countries will pave the way for the development of relations in other areas as well. The experience of Iran-Azerbaijan partnership in Shah Deniz field is also a good experience that can pave the way for the definition of joint work in the Caspian oil and gas blocks and fields.”

On the third day of his visit to Azerbaijan, Owji visited the 27th Caspian International Oil and Gas Exhibition, on the sidelines of a visit with Romanian Energy Minister Virgil-Daniel Popescu and Bulgarian Energy Minister Alexander Nikolov on the four axes of the world energy crisis, engineering, export of equipment and various fields of cooperation were discussed.

News Code 457807

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