Iran's Oil Minister:

Tehran (IP) - Iranian Oil Minister said that it would be favorable for both consumers and producers if the price of oil were between 80 to 90 dollars per barrel .

Iran PressIran News: Speaking to reporters on Saturday, Javad Owji said: "Last week, good agreements were signed with Turkmenistan on the export of technical services and petroleum products, which we hope will be implemented soon."

He announced that a $4 billion consortium would be established to support petro-refinery projects.

Asked whether the desired level of oil prices would meet the interests of producers and consumers given the Brent crude oil price, which has reached $86 per barrel, the Oil Minister said: "In my opinion, and according to experts who have worked in this field, the price between 80 to 90 dollars [per barrel] is desirable; OPEC members also favor this price."

The Russian Energy Minister had recently said that prices above $100/b were to the detriment of both producers and consumers. Regarding this, Mr. Owji added: "The members of OPEC+ would favor the price range I just said."

Regarding gas exports to Turkey, Owji said: "The contract for gas exports to Turkey will expire in 2026, and the issue of extending Iran's gas exports to Turkey is one of the programs on the agenda of the Oil Ministry and the National Iranian Gas Company. Experts from the Turkish company Botas and the National Iranian Gas Company will hold talks this week."

Announcing that good decisions have been made regarding gas exports to Oman, the Oil Minister said: "We have started negotiations, and we hope that it will lead to a contract for export of gas to Oman for an LNG unit in this country."

In response to a question about the president's visit to Russia, he stated: "Good achievements and good news will be announced in due course. As you know, the Oil Ministry is in charge of the Iran-Russia Joint Commission and, God willing, good news with Russia will be announced in due course."

New pipeline's capacity to be used for producing petroproducts

In response to Iran Press on the sidelines of signing MoU for the construction of the strategic pipeline, Javad Owji stated: "Petroleum product pipelines can be used to transport gasoline for both oil and gas, and it depends on the agreements between Iran and other countries."

In his remarks, Owji noted: "This 950-kilometer pipeline will be built to transport the Persian Gulf Star Refinery's products from Rafsanjan to Mashhad. With the construction of this line, oil products will pass through three provinces and are important in terms of energy security."

He added that with the construction of this pipeline, 800 to 1,000 fuel tankers would be prevented from commuting in the country on a daily basis.

"All equipment of this pipeline is supplied from inside the country," he said.

Referring to President Raisi's trip to Russia in the coming days, Owji pointed: "We will have good news about this visit and the Ministry of Oil has been selected as the Head of the Iran-Russia Joint Commission."


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