News ID: 208226
Published: 0430 GMT January 16, 2018

Official: JCPOA lent impetus to oil talks

Official: JCPOA lent impetus to oil talks

A senior Iranian energy official said the implementation of the Joint Comprehensive Plan of Action (JCPOA) in January 16, 2016 accelerated Iran's oil talks with foreign companies.

The JCPOA's internal consistency and strength and its balanced sharing of interests are among the reasons compelling US President Donald Trump to prolong the suspension of nuclear sanctions on Iran, said Amir Hossein Zamani-Nia, the deputy oil minister for international affairs and trade on the second anniversary of the implementation of the landmark nuclear deal between Iran and the P5+1, Shana reported.

"Negotiations with foreign companies to join Iran's oil industry have accelerated [thanks to the JCPOA]," he added.

The deputy oil minister said, "The breakthroughs achieved by the oil industry thanks to the implementation of the JCPOA have allowed us to tap all our potentials for development, production and export of oil and gas. There are no barriers to this."

Iran exported an average of 2.559 million barrels of crude oil per day during September 23-December 21, 2017, Zamani-Nia added.

Prior to the implementation of the JCPOA, Iran could export nearly a million barrels of crude oil per day but this figure witnessed a 2.5-fold increase in a matter of a few months and has remained steady since then.

Imports of key items and equipment for the sector has been much easier for Iran since January 2016 and the country has also signed a deal with an Italian company to manufacture CRA pipes, which are considered a strategic items in oil industry.

Moreover, after the implementation of the JCPOA, the National Iranian Tanker Company renewed its membership to the Oil Companies International Marine Forum (OCIMF).


Resource: Shana
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