Petroleum Minister: Iran to develop energy ties with friends amid sanctions

Iranian Petroleum Minister Javad Owji said that the Islamic Republic of Iran will develop energy relations with friends like China and Russia amid economic sanctions.

Owji is in Japan to attend the state funeral for former Japanese Prime Minister Abe Shinzo.

“Iran is working to attract investment from overseas without waiting for the deal to be restored,” Owji was quoted by the Japanese media “NHK” as saying.

“He called on Japanese companies to consider expanding into the Iranian market, stressing that his country is 100 percent ready to accept their investment.”

“Iran can produce 4 million barrels of crude oil per day. That's reportedly above levels the country had boasted before the sanctions were imposed,” he noted.

“Iran has been able to increase its crude exports to several countries. They are believed to include China,” he stated.

“Iran signed a memorandum of understanding with Russia's state energy giant Gazprom in July for cooperation in the oil and gas industry,” he noted.

News Code 194359

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