Young Journalists Club | Latest news of Iran and world

News ID: 1955
Iran » Iran
Publish Date: 10:44 - 24 August 2013
Tehran, YJC. The Iranian oil minister has said that he does not welcome a high oil price, calling it a threat to the country.

The 9th and 10th Iranian presidential terms were to see an unprecedented increase in oil prices, whereby the government was to earn $650-700 billion.

The Ahmadinejad administration was a fan of high prices. The last 10th administration oil minister once called the $100+ price a reasonable one.

On the contrary, the 11th administration considers high prices a threat against the country. The Oil Minister Bijan Zanganeh says "Rivals enjoy the situation more than Iran when global oil prices increase.”

"Whenever oil got expensive the rivals benefited much more than Iran,” said the oil minister, adding "whenever oil got too expensive, we could not sell.” 
Providing comments on the 11th administration policy regarding oil prices at $107-110, Zanganeh said "The increase of oil price to this level is an opportunity and a threat simultaneously. On the one hand it is an opportunity to increase the country’s revenue, but whenever oil prices got too high, Iran was somehow unable to sell oil. Right now prices are high and we cannot sell.”

He also pointed to the US providing for part of its need from shale gas and said "As I had said eight years ago, high oil prices are not frown upon by the West or by big consumers. They proved that with these prices, the production of shale gas and oil has become more economic for them.”

"They got so ahead that last year the American president Barack Obama said that by 2016 the US will be self-sufficient in oil and gas,’ Zanganeh stated.

He added that once the US becomes self-sufficient in oil and gas, not only energy market, but global geopolitical equations will change drastically.

Asked to give his predictions on the crude oil prices in the third quarter of 2013, Zanganeh said "Right now I cannot say anything. I don’t think any extraordinary thing is going to happen.”

Rouhani admin considers high oil price a threat

Tehran, YJC. The Iranian oil minister has said that he does not welcome a high oil price, calling it a threat to the country.

The 9th and 10th Iranian presidential terms were to see an unprecedented increase in oil prices, whereby the government was to earn $650-700 billion.

The Ahmadinejad administration was a fan of high prices. The last 10th administration oil minister once called the $100+ price a reasonable one.

On the contrary, the 11th administration considers high prices a threat against the country. The Oil Minister Bijan Zanganeh says "Rivals enjoy the situation more than Iran when global oil prices increase.”

"Whenever oil got expensive the rivals benefited much more than Iran,” said the oil minister, adding "whenever oil got too expensive, we could not sell.” 

Providing comments on the 11th administration policy regarding oil prices at $107-110, Zanganeh said "The increase of oil price to this level is an opportunity and a threat simultaneously. On the one hand it is an opportunity to increase the country’s revenue, but whenever oil prices got too high, Iran was somehow unable to sell oil. Right now prices are high and we cannot sell.”

He also pointed to the US providing for part of its need from shale gas and said "As I had said eight years ago, high oil prices are not frown upon by the West or by big consumers. They proved that with these prices, the production of shale gas and oil has become more economic for them.”

"They got so ahead that last year the American president Barack Obama said that by 2016 the US will be self-sufficient in oil and gas,’ Zanganeh stated.

He added that once the US becomes self-sufficient in oil and gas, not only energy market, but global geopolitical equations will change drastically.

Asked to give his predictions on the crude oil prices in the third quarter of 2013, Zanganeh said "Right now I cannot say anything. I don’t think any extraordinary thing is going to happen.”

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