Tehran plans to raise oil production by 1 million barrels a day in the coming months, Iranian Deputy Petroleum Minister Amir Hossein Zamaninia said Saturday.
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President Muhammadu Buhari will depart Abuja on Sunday for Tehran where he will participate in the 3rd Gas Exporting Countries’ Forum opening in the Iranian capital on November 23, 2015.
The Summit affords GECF Member Countries the opportunity to discuss at the highest level developments, trends, and policies on energy in general and gas in particular, and also to reaffirm their continued support to the objectives of the Forum.
Russia, Iran, Qatar, Algeria, Bolivia, Egypt, Equatorial Guinea, Libya, Nigeria, Trinidad and Tobago, Venezuela, and the United Arab Emirates, are the main members of the gas exporting body. Iraq, Kazakhstan, the Netherlands, Norway, Oman and Peru participate in it as observers.
Turkmenistan’s President Gurbanguly Berdimuhamedow, whose country is one of the world’s largest holders of gas resources but not a GECF member, will take part in the summit with the guest status. It is considering to build a large pipeline network that would connect its huge South Pars gas field with European customers.
Iran has asked OPEC to accommodate its return to previous production levels when worldwide sanctions are lifted, Bijan Namdar Zanganeh told reporters in Tehran.
The current OPEC quota stands at 30 million barrels of crude a day.
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“Increasing crude exports (in the global market) is Iran’s inalienable right and we do not need the permission of anybody or any organization in this regard”, Zangeneh said. “If Iran is looking to boost revenues dramatically from oil sales, it will be disappointed”, he said, adding that Iran’s future is more gas than oil.
