Iran Needs No Permission to Return to Oil Market – Minister

By Staff, Agencies

Iranian Minister of Oil Bijan Zanganeh said that Iran does not need permission to return to oil markets, as he mentioned the country’s exporting 2.3 million barrels is something possible.

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," Zanganeh said.

Noting that OPEC has the commitment to maintain prices, the minister 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.