Iran’s Minister of Petroleum Bijan Namdar Zanganeh (file photo)

Oil min. to attend Algeria OPEC meeting

TEHRAN, Aug. 26 (MNA) – Iranian Oil Minister Bijan Zanganeh has announced that he will participate in a meeting of OPEC ministers in Algeria in September.

Speaking to reporters on Friday morning, the Iranian minister confirmed his intention to take part in the forthcoming OPEC meeting towards the end of next month to be held on the sidelines of an International Energy Forum industry conference in Algeria.

Zanganeh also noted that the new OPEC Secretary-General Mohammed Barkindo is scheduled to make a visit to Tehran in near future.

The official, while stating that Iran has had no role in disrupting stability of the oil market, emphasized “given the removal of international sanctions, Iran is after reviving its share in global crude oil markets.”

He also confirmed Iran’s presence in the 15th International Energy Forum (IEF15) to be held in Algiers from 26-28 September adding “when instability occurred in the market, Iran’s oil production barely stood at 2.7 million barrels and its export volume was less than one million barrels per day.”

He urged those who disturbed the balance of the market to undertake the weightiest responsibility in restoring stability.

In order to improve crude oil prices and market conditions, Iran would continue cooperation with the members of the Organization of Petroleum Exporting Countries (OPEC) while “we expect our rights to regain our lost share in global markets to be considered,” he underlined.

Taking back the country’s lost share in the market remains as the will of Iranian people, noted Zanganeh.

Hosted by the Government of Algeria, IEF15 will gather Ministers, senior officials, CEOs, International Organizations, and experts from the 73 member countries of the IEF.

By Mehr News Agency