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Oil Output & Exports Increase is JCPOA Achievement

Source: 8/30/2016, Location: Asia

Minister of Petroleum Bijan Zanganeh said that increase in production and export of oil is the major achievement of the Joint Comprehensive Plan of Action (JCPOA).

Addressing a seminar, themed "Economic Effects of JCPOA on Energy and Investment in Khouzestan Province", Zanganeh said, "We are in a country that successfully left behind the era of sanctions with dignity and authority and gained what it wished."

He announced that Iran's crude output grew unbelievably after the JCPOA as many imagine it is unachievable.

"Iran's oil production rose to 3,850,000 bpd from 2,700,000 bpd and export of oil and gas condensates has reached more than 2,500,000 bpd, which is a big move."

"All these achievements have been gained at a time when a group of people worldwide wished to bring oil exports of Iran to zero and harm the country by lowering oil prices. "Preparation of the possibility for access to the petrodollar and its transfer is another achievement of the JCPOA because petrodollar had prior to sanctions been obtained about 10 percent less than original value and now the problem has been solved."

"Now we access any commodity and equipment we need. During sanctions, we placed order for any good three times and even paid the money and in certain cases, the equipment was not put at our disposal and now besides easy access to equipment purchase, our confiscated commodities have also been freed."

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