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

Iran waiting for Trump JCPOA move before deciding on oil sector

SHANA — Iran’s petroleum minister said on Sunday the country was waiting for US President Donald Trump’s May 12 decision on Tehran’s nuclear deal with world powers before making any decision on its oil sector.

“We must first see what will exactly happen, and then we can make a decision,” Bijan Zangeneh said when asked what would happen to Iran’s petroleum industry in case Trump carries out his threat of leaving the nuclear deal, officially known as the Joint Comprehensive Plan of Action.

The minister said that the ministry would award oil and gas production preservation projects worth $3 billion to Iranian oil and gas companies over coming four to five months. He said that $6.3 billion worth of oil preservation projects were envisaged.