Iranian Oil Exports to Jump by 0.5mln bpd after Sanctions Lift: Minister
TEHRAN (Tasnim) – Iranian Oil Minister Bijan Namdar Zanganeh announced that the country plans to boost its oil exports by half a million barrels per day (bpd) immediately after the removal of economic sanctions against the country.
"Oil exports will rise by 500,000 bpd immediately after termination of sanctions and after six months, they will increase by one million bpd," Zanganeh told reporters after a cabinet meeting in Tehran on Wednesday.
He further expressed the hope that the Iranian oil exports would reach 2.5 million bpd in the near future.
"Our priority is to expand joint oil and gas fields through (utilizing) domestic and foreign capacities," he said.
The anti-Iran sanctions have been imposed over the unfounded accusation that Tehran is pursuing non-civilian objectives in its nuclear energy program, an allegation that Iran has always rejected in its talks with six world powers over the nuclear issue.
Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) concluded more than two weeks of talks over Tehran's nuclear program in Vienna on Tuesday, July 14.
The negotiating parties reached a conclusion over the text of a comprehensive deal on Tehran's nuclear program after 22 months of diplomatic negotiations, ending more than a decade of standoff over Tehran's civilian nuclear program.