Ministry: No permission needed to return to oil market

12/14/2020 2:19:00 PM

Iranian Minister of Oil Bijan Zanganeh says export of 2.3 million barrels is possible, adding that Iran does not need permission to return to oil markets.

He made the remarks on the sidelines of the opening ceremony of South Pars phase 11 drilling on Monday.

"If there are no sanctions and resources are provided to rehabilitate wells that have been reduced in production, 2.3 million barrels can be exported," said Zanganeh.

Noting that OPEC has the commitment to maintain prices, he added, "Iran does not need permission to return to the oil market because it considers it as a right."

Elsewhere in his remarks, he referred to the sanctions, saying, "During the sanctions period, we proved that we will not give up and find another way to prevent the stop of the development of the oil industry through the efforts of our colleagues."

"Despite US sanctions against Iran's oil industry, Iran's oil production has never stopped," Zanganeh highlighted.

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