Tehran (IP) - Minister of Petroleum says Iran’s oil sales have improved.

Iran PressIran News: “From the next one or two weeks, the export of petroleum products, which we had restrictions due to the supply of domestic reserves, will resume,” Javad Owji said on Tuesday.

Owji told reporters that oil sales had improved a lot, and domestic and foreign potentialities are being used in this regard.

Referring to oil barter, he continued: “The administration has identified desirable plans in the form of participation in investment projects which will start soon.”

The Minister also emphasized the export of petroleum products, which had been limited recently due to the supply of domestic reserves: “Praise be to God, the export of petroleum products will resume in the next one or two weeks.”

He added: “I promise that with the plans of the Ministry of Petroleum and the Raisi administration to increase the refining capacity of the country, God willing, the refining capacity of the country will increase by 1.4 million barrels per day in the next 4 to 5 years.”

Read More:

SCO provides opportunity for Iran to increase non-oil exports

In addition to the devastating impacts of the coronavirus pandemic on the global oil industry, which resulted in the drastic fall in oil prices, the Iranian oil industry has also been under pressure from the US efforts to isolate the country by re-imposing sanctions.

The country, however, has been ramping up its oil production over the past few months following the recent developments in the White House and the recovery of the global markets from the negative impacts of the coronavirus pandemic.

Iran is determined to increase its oil exports despite sanctions imposed by the United States on Tehran’s crude sales, Oil Minister Javad Owji said on September 1, adding that the use of oil sanctions as a “political tool” would harm the market.

“There is strong will in Iran to increase oil exports despite the unjust and illegal US sanctions,” Owji told state TV, without elaborating on how Tehran planned to overcome sanctions.

“I promise that good things will happen regarding Iran’s oil sales in the coming months.”


Read More:

Nasrallah: Resistance will help if Lebanon’s oil endangered

Iran's oil minister, Venezuelan FM urge boosting cooperation in energy sector