16 Apr 2024
Thursday 2 June 2016 - 22:30
Story Code : 216806

Iran oil exports to Europe at 0.7mbd

TEHRAN, June 02 (Shana) -- Iranian Minister of Petroleum Bijan Zanganeh says the country exports close to 700,000 barrels of crude oil to Europe on a daily basis.

Speaking in Vienna, Austria, prior to the 169th ordinary meeting of the member states of the Organization of Petroleum Exporting Countries (OPEC) on Thursday, Zangeneh said Iran has more than doubled its crude oil exports and has brought it to 2.023mbd from 1.1mbd since the sanctions.

He said Iran's crude oil production stands at nearly 3.8mbd while many believed that the country cannot raise its output in such a fast pace after the removal of the sanctions.

"We will continue our increasing production as long as regaining our share in the market," the official said."

He further said Iran aims at production of 4.8 mbd that is envisaged in the 6th 5-year development plan.

Regarding the next OPEC secretary general, Zangeneh said "I promised the Nigerian oil Minister to support their candidate about 10 months ago. It doesnt mean that we are against Indonesia.

Indonesian is our friend and its candidates is capable, but we have morally promised Nigerians before, but anyway we support vote of majority."

Push for Country Quota

The senior Iranian energy official said ceiling without country quota means nothing.

"I think the general ceiling of OPEC without country quota is not meaningful; it is no controllable and no possible to supervise."

"I don't agree with overall ceiling... I think still OPEC is not ready for the quota system."

By SHANA
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