Tehran, YJC. Iran's oil minister has said the country will retain its OPEC quota very soon citing development of the oil fields. He said that the current stalemate in the oil market has been created by the western governments for political ends.
Oil Minister Bijan Namdar Zanganeh said that the
restrictions created by the sanctions on Iran could not stop the plans adopted
by the Oil Ministry to refurbish the oil industry and capacity building to
produce crude oil.
Stating that oil industry has proved capability to go ahead
with development plans, he said 'Our negotiating team have initiated fresh
nuclear talks since Monday.'
Zanganeh said that inauguration of South Pars gas field by
the president indicated technology know-how of the Iranian oil and gas
industry.
'If Iran have sat at the negotiating table with the western
governments, It does not mean its inability to bring the oil and gas fields
into operation,' he said, IRNA reported.
Zanganeh said that gas production has increased more than
125 million cubic meters this year.
Evaluating oil market, Zanganeh said that oil price should
naturally move forward, because those who pushed it downward are under pressure
themselves.
He said that OPEC did not work well in the course of price
falls, adding that OPEC has both strong points and weak points in
decisionmaking.
OPEC could not take decision in the past meeting, so
everybody does what it wishes.
Anyway, existence of OPEC is much better than its absence,
because it is the sole organization of the developing countries which can affect
the global economy.