Tehran, Iran, Aug. 19
By Milad Fashtami - Trend:
Iranian Oil Minister Bijian Namdar Zanganeh said that the country will not limit its oil exports to any certain figure.
"Iran will continue its oil exports in line with the administration's policies," he said, Iran's Mehr News Agency reported on August 19.
"By increasing gas output the country will be able to export $5 billion worth of oil products in the current year [to end March 20, 2015] and $12 billion worth of oil products in the next calendar year," Zanganeh said.
"Iran seeks to boost its oil and gas condensates exports," he said, adding that an increase in oil revenues will help the country's economy to snap out of recession.
"Under the Geneva agreement international oil tankers have no limitation in entering Iranian ports," he said.
"The Alexandra 1, which is run by Transland Bulk Carriers Limited, called at Iran's Assaluyeh oil port on July 25," he explained, adding that the tanker was under insurance from the West of England P&I Club.
Iran's Deputy Oil minister Abbas She'ri Moghaddam said that after signing the interim deal between Iran and the P5+1 group of countries, the P&I insurance companies agreed to sign six months contracts, but they still refuse to sign long-term, Iran's Mehr News reported on July 16.
"Ship insurers remain cautious saying they need to wait for the result of the talks between Tehran and the P5+1," he said.
He went on to note that increasing Iran's liquid fuel exports depends on the results of the nuclear talks.
On January 23, 2012, under pressure from the United States, the EU foreign ministers approved a round of sanctions against Iran's oil and financial sectors. The sanctions, which prevent EU member states from purchasing Iran's oil or extending insurance coverage for tankers carrying Iranian crude, came into effect on July 1, 2012.
Iran and the P5+1 group of countries sealed an interim deal in Geneva on November 24 to pave the way for the full resolution of the West's decade-old dispute with Iran over the country's nuclear energy program, Press TV reported.
In exchange for Iran agreeing to limit certain aspects of its nuclear activities, the US and its allies agreed to lift some of the existing sanctions against Tehran.