New oil minister: Revival of Iran’s market share sets priority

TEHRAN (FNA)- Iran’s new Oil Minister Bijan Namdar Zanganeh said regaining Iran’s lost oil market share is one of his top priorities.

Zanganeh said those who have has gained Iran’s share in the market have the two choices of either accepting falling oil prices or  reducing their oil production after the several years of the dvantage that they have taken from Iran’s absence to provide enough space for Iran in the market.

He went on to say that in the last 30 years, “the oil sanctions that have tightened these days have aimed at crippling Iran’s oil production and exports as well as oil industry development”.

“We should promote managerial capabilities in the oil industry so that the colonial powers realize that they cannot speak to Iran with the language of sanctions,” stressed the new minister.

“We plan to reinforce our relations with OPEC members to the highest level and at the same time our expectations from OPEC members, mainly our neighbors, is high.”

The Iranian Parliament on Thursday gave a vote of confidence to President Rouhani’s nominee, Zanganeh, as the country’s new oil minister.

Zangandeh had also earlier served as oil minister for eight years to 2005.

By Fars News Agency


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