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Iran will develop oil industry despite United States sanctions – Zanganeh says

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Iran will develop oil industry despite United States sanctions – Zanganeh says

Iran is determined to develop its oil industry in spite of United States sanctions imposed on the country, Iranian Oil Minister Bijan Zanganeh said.


Zanganeh, who said this in a televised speech on Saturday, added: ”We will not surrender under any circumstances.

“We have to increase our capacity so that when necessary with full strength we can enter the market and revive our market share.”

The minister said this before the signing of a 294-million dollars contract between the National Iranian Oil Company and Persia Oil & Gas, an Iranian firm.

He also stressed that the contract was to develop the Yaran oilfield that is shared with neighbouring Iraq’s Majnoon field.

“The agreement aims to produce 39.5 million barrels of oil from the Yaran oilfield in Khuzestan province in southwestern Iran,’’ the Iranian Oil Ministry’s news agency SHANA said.

Edited By: Abiodun Oluleye/Emmanuel Yashim (NAN)

Abiodun Oluleye: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

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