The 3 Week Diet System

Thursday, May 7, 2015

Zangeneh says removal of sanctions will upgrade national technology

May 07:

Tehran, May 7, IRNA – Iran’s Oil Minister Bijan Zangeneh said that removal of sanctions on Iran’s petroleum industry would help upgrade national technologies.

“Lifting of sanctions would not mean that we would no longer use domestic potentialities. On the contrary, sanctions relief would serve as a springboard for institutionalizing and upgrading national technology and acquiring regional and global markets in the oil sector,” Zangeneh said in remarks carried by the oil ministry news agency Wednesday.


He said that his ministry would further support domestic potentials even after sanctions are lifted.

“Iranian companies should benefit from such interaction to win foothold in regional markets,” he added.

Zangeneh said Iranian companies can have a share in Iraq, Turkmenistan and Azerbaijan market.

“We should not imagine that all problems would be resolved once sanctions are removed,” he said, adding: “We should make efforts to upgrade technology, boost the quality of products and acquire foreign markets.”

The minister also expressed hope that OPEC member states would reach consensus on reducing the 12-member body’s output ceiling.

“We have to pray. Most OPEC members do not approve of the persistence of the current trend,” Zangeneh said.

“None of this organization’s members are satisfied with the prices due to the fluctuations we are currently witnessing and our view is clear to everyone. Crude oil supply is currently above demand, and if political factors are eliminated, the prices would be driven up,” he said.

Zangeneh also welcomed Russia’s adhesion to OPEC, saying: “There is no obstacle. When OPEC agrees to let Angola in there would be no reason to block the presence of Russia with more than 10 mb/d of oil production.”

He also reaffirmed Iran’s perseverance in regaining its oil market share. “Under no circumstances, we will back down from taking back Iran’s lost production share.”


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