Araqchi says post-JCPOA conditions mostly in favor of oil industry

Tehran, Nov 8, IRNA – Deputy Foreign Minister for Legal and International Affairs Abbass Araqchi said on Sunday that oil industry is the most important industry in terms of enjoying conditions in the post-JCPOA era.

Briefing a group of Oil Ministry personnel on the Joint Comprehensive Plan of Action (JCPOA), Araqchi said that while benefiting from the opportunities available as a result of the JCPOA, the officials in charge should be watchful of likely threats.

He said signs of the new conditions the oil and petrochemical industry will face after the JCPOA are presence of foreign oil, gas and petrochemical companies in Iran.

He added that some of the companies have taken more steps forward and the ground has been prepared for conclusion of contracts. Final conclusion of the agreements will be possible after implementation of the JCPOA and total lifting of sanctions, he noted.

‘Under the new atmosphere, we should be prepared to use all the opportunities available, while being watchful of likely threats.’