Iran enjoying 13% share in ME oil market

TEHRAN, Oct 15 (Shana) — Deputy Minister of Petroleum for Refining and Distribution of Petroleum Products Abbass Kazemi says Iran has gained a share of 13 percent in export of oil products in the Middle East after the Joint Comprehensive Plan of Action (JCPOA).

Kazemi told Shana that Iran has had strong presence in the Middle East markets for 13.5 percent share in export of oil products a day and in 2015 it stood at more than 60 million barrels.

He said daily trade of more than 400,000 barrels of oil products at several target markets will be possible in light of access to marine transportation system and international transportation systems, international financial system and insurance facilities and most importantly confidence of all trade partners of the country in light of successful policies leading to settlement of the nuclear issue.

Absolutely, without the JCPOA achievements in diplomatic relations and international trade, it would not be possible to win 13 percent share in total trade of products in the Middle East.

Concluding his remarks, Kazemi said plans are made for increasing the level of exports to about 600,000 bpd by next year.

By SHANA