Iran to take all necessary measures to keep oil exports afloat: Zanganeh

Iranian Oil Minister Bijan Namdar Zanganeh said on Sunday that Iran will use any possible way to export its oil, stressing that exporting crude was the country’s legitimate right.

We will use every possible way to export our oil and we will not succumb to America’s pressure because exporting oil is Iran’s legitimate right,” Zanganeh said.

Iran’s crude oil exports were cut deeply when the United States re-imposed sanctions after President Donald Trump exited last year from Iran’s 2015 nuclear deal with world powers.

Speaking to the press on the same day, the official emphasized that Iran wants positive ties with all the countries in the region, adding that China’s national petroleum company had pulled out of developing phase 11 of the country’s giant South Pars gas field.

“We want to be friends with all regional countries. Our mutual enemy is outside the Middle East... I have no problem to meet with Saudi Arabia’s oil minister”, he stated.

Petropars to develop SP phase 11

Zanganeh also said that China’s CNPC had pulled out of a contract to develop South Pars Phase 11, adding Iranian Petropars Company would develop the project alone.

“China has pulled out of developing the phase 11 of South Pars field and Petropars will carry out the job,” he said.

In 2015, National Iranian Oil Company (NIOC) signed a contract with a consortium of Total, CNPC International and Petropars to develop the offshore project in the Persian Gulf waters.

Following the U.S.’s withdrawal from the Iran nuclear deal back in May 2018 and imposition of new sanctions and restrictions for foreign companies working in Iran, Total pulled out of the contract.

“The fate of the South Pars Phase 11 has been determined and Petropars will continue developing the project alone and by the end of the this [Iranian calendar] year (March 19, 2020), the first jacket will be installed in the phase for a platform with 500 mcf/d of gas production capacity,” Zanganeh said during a visit to MAPNA Group’s turbine workshop near Tehran.

source: Tehran Times