VIENNA: Iran will “immediately” export more crude oil once sanctions are lifted in the wake of the international deal to roll back its nuclear programme, the country’s oil minister said Tuesday.
“Immediately we can” return to full export capacity of four million barrels per day, Iran Oil Minister Bijan Zanganeh told reporters ahead of OPEC’s meeting on oil production in Vienna on Wednesday.
“We have no technical difficulties to expand our exports and to return to four millions barrels a day oil output,” he said, noting however “political” obstacles.
World powers — the five permanent members of the United Nations Security Council and Germany known as the P5+1 — reached last month a historic deal with Iran on its disputed nuclear programme.
Pending negotiations for a broader agreement, the Islamic state agreed to freeze parts of its programme in exchange for an estimated $7.0 billion of relief from crippling sanctions.