Gulf Oil and Gas accountACCOUNT

Efforts Continue to Save Iran Oil Market Share

Source: www.gulfoilandgas.com 5/21/2018, Location: Asia

Climate Action and Energy Commissioner Miguel Arias Ca?ete met Iranian Minister of Petroleum Bijan Zangeneh in his Tehran office on Saturday in a bid to protect Iran"s oil trade following US withdrawal from the nuclear deal.

The meeting was aimed at presentation of plans for continuing oil and gas purchases and protect European companies despite renewed US sanctions on Iran by the EU energy commissioner.

Addressing a press briefing following the meeting, Iranian Minister of Petroleum Bijan Zangeneh said the EU commissioner conveyed EU message to Tehran regarding protection of the Joint Comprehensive Plan of Action (JCPOA)"s implementation, adding negotiation would be continued between Iranian Ministry of Petroleum executives and EU energy commissioner"s representatives on oil, gas and petrochemical topics.

"The EU Energy Commissioner voiced the political will of the Union in Sofia, Bulgaria, [to protect JCPOA]," he added.

The official said: "Based on a statement issued by the EU, representatives from the two sides will enter into detailed discussion in this regard."

Asked whether the US pullout of the JCPOA would force an end to the OPEC cut deal by the end of the 2018, Zangeneh said, "Any decision in the Organization needs consensus [of the members]."

"I believe if the EU helps us and honors its statements, the level of Iran"s oil exports will remain intact and this would not be a reason for changing a decision made in the past."

Responding to a question on what guarantees existed that India and China would continue oil purchase from Iran, the official said: "We have talked to them and received no negative feedback from them."

Mr. Zangeneh had previously announced Iran had targeted an oil output of 4.2 million barrels per day. Asked whether the country would pursue such output despite the restrictions, he said: "That would be difficult but we would not put that aside. It might take more time, but we will not do away with it."

Financials and Investment News in Iran >>

Botswana >>  10/27/2020 - Tlou Energy Limited is an ASX, AIM and BSE listed company focused on delivering power in Botswana and southern Africa through the exploration and deve...
Argentina >>  10/26/2020 - President, the oil and gas upstream company with a diverse portfolio of production and exploration assets focused primarily in Latin America, announce...

Netherlands/Holland >>  10/26/2020 - On 12 February 2020, Vopak announced a share buyback program to return EUR 100 million to shareholders.

The purpose of the share buyb...

Nigeria >>  10/26/2020 - Africa Oil Corp. is pleased to announce that it has received its fifth dividend from Prime Oil and Gas B.V. (“Prime”), a company that holds interests ...

Saudi Arabia >>  10/25/2020 - SABIC reported its earnings for the third quarter of 2020. The company’s revenue for the third quarter reached SAR 29.30 billion ($ 7.81 billion), rep...
Colombia >>  10/22/2020 - ARROW Exploration Corp. announces that its subsidiary, Carrao Energy S.A. (“Carrao”), has entered into an agreement with respect to a bridge loan (the...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.