Code: 82000912 (5228332) | Date: 13/03/2016 | Time: 14:25|
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Zangeneh: OPEC-Russia Extraordinary Meeting not serious

Bandar Abbas, March 13, IRNA- Minister of Petroleum Bijan Zangeneh said that despite news regarding an Extraordinary Meeting between Russia and Organization of the Petroleum Exporting Countries (OPEC), it hasn’t been given serious consideration.

Speaking on the side lines of his visit to the Persian Gulf Star Refinery, Zangeneh told IRNA that no meeting between OPEC and Russia will be held without Iran's agreement.

On predicting the oil price in next Iranian year he said that forecasting price of oil is not possible saying that those who predicted plunging oil prices are dealing with problems and are eager to modify the inappropriate situation.

He added that global market is well aware that decrease in oil price is a threat for world economy.

On the possibility of reaching oil price to $70 per barrel, he said that it is a good price but we are satisfied with a lower price now.

On negotiations with American General Electric Company, Zangeneh said that this company is willing to cooperate with Iran adding that we have no limitation for the American Companies' presence in Iran but some limitations have been set by the U.S. government.

On cooperation with German Siemens Company, he noted that we requested this company to compensate for delays caused due to sanctions and to increase the number of its experts to accelerate projects' implementation.

Iranian Minister certified signing confidentiality contract on South Azadegan oil field with French Total Company.

He added that French oil giant Total is supposed to study and present a proposal regarding the development of a new step of this oil field.

Referring to Russia Energy Minister's trip to Iran next week, Zangeneh said that Russia's Minister is responsible for presiding Joint Economic Commission between two countries.

On Iran's agreement regarding oil production freeze plan, he said that we are waiting to produce four million barrels a day.

He reiterated that the oil and gas condensate exports hit 1.75 million barrels a day and is expected to grow to two million barrels by the end of 1394 (March 21).

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