Page 8 - MEOG Week 22 2021
P. 8
MEOG PERFORMANCE MEOG
Zanganeh says Iran could hit
6.5mn bpd post sanctions
IRAN IRAN’S Oil Minister Bijan Namdar Zanganeh and Russia—have made significant progress at
said on May 31 that Iran could easily expand its the talks but important issues still need to be
oil production to 6.5mn bpd in the event that resolved, Iranian Foreign Ministry spokesman
US sanctions on its oil industry were lifted, the Saeed Khatibzadeh told a televised weekly news
Shana energy news agency, controlled by the conference on May 31.
ministry, reported. “Each round of talks in Vienna could have
Shana also cited Zanganeh as saying: been the final round. We should not rush. We
“Increasing Iran’s oil production capacity have made significant progress but key issues
increases Iran’s security and political power. Oil remain,” he added, noting: “There is no stalemate
is not just economic power.” in the talks.”
State-owned oil company National Iranian Iran’s top nuclear negotiator Abbas Araqchi
Oil Company (NIOC) has for months been doubted that the talks would be the final round,
stepping up preparations for a surge in oil out- and the delegations might need to return to their
put. However, some analysts only see Iran as capitals for consultations.
capable of moving production up to 4mn bpd “The negotiations are very complex and we
within three months. have now reached the main issues of dispute,”
Iran has the fourth largest oil reserves in the Abbas Araqchi, told state TV from Vienna.
world but US sanctions brought in by former US President Joe Biden has said Washington
American president Donald Trump have barred will return to the pact if Tehran first resumes full
the country from selling crude exports to most compliance with the nuclear deal, including its
potential customers. strict limits on uranium enrichment, a poten-
Any sales Iran can make are conducted on tial pathway to nuclear bombs, though Iran has
the grey market, typically using disguised tanker always denied having any ambition to develop a
shipments. nuclear weapon.
If the US sanctions are lifted in the near “All sanctions should be lifted and then it
future, the increase in Iranian supply on the should be verified by Iran ... then we will reverse
world market would be on top of extra barrels our nuclear steps,” Khatibzadeh said.
already expected from the Organization of the Iran-related US sanctions have been imposed
Petroleum Exporting Countries and allies, or on more than 700 entities and people, according
OPEC+, which plans to bring back about 2mn to a Reuters tally of US Treasury actions.
bpd of output through July. Iran is demanding that all sanctions intro-
The sanctions would be lifted if at the ongo- duced under Trump—those tied to its nuclear
ing Vienna talks—in which major powers are programme, and non-nuclear penalties such as
conducting shuttle diplomacy between Iranian those linked to terrorism, missile development
and American diplomats—the US and Iran can and human rights—should be rolled back.
find their way to reviving the 2015 nuclear deal “This is one of the key issues that has slowed
abandoned by Trump in May 2018. down the talks. All sanctions, whether nuclear
Iran and the six world powers represented in or non-nuclear, imposed by Trump should be
Vienna—the US, UK, France, Germany, China lifted,” an Iranian official told Reuters.
P8 www. NEWSBASE .com Week 22 02•June•2021
