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Page added on February 28, 2015

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Oil sector successful, Iran says


Most sectors of the Iranian economy are performing well, with the oil sector in particular performing as expected, the country’s deputy oil minister said.

Iranian budgetary planners said they’re taking the steps necessary to reduce the leverage of oil revenue in the nation’s economy. Deputy Oil Minister Mansour Moazzami told the Oil Ministry’s official news website, Shana, “positive” developments were emerging in most sectors of the Iranian economy.

“Our ministry successfully fulfilled its tasks related to increasing production capacity of oil and gas and could provide feedstock and fuel needs of large industries of the country without interruption,” he said in an interview published Wednesday.

Iranian President Hassan Rouhani this week claimed an economic “miracle” when announcing inflation was down from 40 percent under the administration of Mahmoud Ahmadinejad to around 16 percent.

Three years ago, oil revenue accounted for half of the Iranian budget. Members of a planning commission said they envision oil accounting for about a quarter of the budget for the next Iranian year, which begins mid-March

The latest comments came as U.S. Secretary of State John Kerry testified on Capitol Hill about progress made on nuclear negotiations with Iran. He testified that, while he can’t predict the outcome of the talks, “we’ve halted the progress of Tehran’s nuclear program and even rolled it back in key respects.”

Iran in November 2013 agreed to suspend some of its nuclear research activity in exchange for modest relief from international sanctions. The Islamic republic can export about 1 million barrels per day under the terms of the agreement.

The Organization of Petroleum Exporting Countries said in its latest market report oil production from member state Iran was more or less steady at 2.7 million bpd.

5 Comments on "Oil sector successful, Iran says"

  1. BobInget on Sat, 28th Feb 2015 12:02 pm 

    Iran would like nothing better then to take
    Israel’s place as our political Allie and replace Saudi Arabia as America’s prime (ME) crude oil supplier.

    While Israel is doubling down on war rhetoric
    Iran is spreading its legs begging to be exploited.

    Saudi Arabian Royals, since the latest US puppet Yemeni government fell are now completely surrounded by unfriendies. Any glitch what-so-ever in oil deliveries and even the US may abandon support.

    KSA just granted airspace to Israel to BOMB
    Iran. Think about that. Home of Mecca friending Israel. How much KSA hates Iran risking power positions in the Arab world just to destroy Iran.. (and possible the entire ME)

    I still believe increased threats by US Republicans and Israel on Iran are political in nature.

    US Joint Chiefs, Pentagon agrees. If Israel
    attacks Iran, Israel will cease to exist in fewer then six days. Accidents do happen especially in this over heated environment.

    If and when ME oil suffers premature death,
    crude oil prices will double every two days.
    The US’s brilliant economic ‘recovery’ will end.

    It’s Always About Oil.

  2. Plantagenet on Sat, 28th Feb 2015 12:26 pm 

    The whole idea that Iran secretly wants to be an American ally is bizarre. The Iranian Mullahs who run Iran are Islamist religious nuts, and remain strongly anti-American and love nothing more than to lead their people in chants of “Death to America”.

  3. BobInget on Sat, 28th Feb 2015 1:48 pm 

    HRH should be careful who she is calling ‘nuts’. Everyone’s posts are here for all to examine. Most observers agree, the Iraqi
    people deeply admire America.

    If HRH is an American he/she would not enjoy
    being blamed for many of US governmental
    actions abroad or internally. Does HRH take credit/blame for thousands of drone strikes
    on/in nations we Americans are not at war?

    HRH should be free to voice his/her opinion freely on the mental health of foreign leaders
    who incidentally have done no harm to either the US or Israel. PROVIDED of course the poster offers proper medical credentials.

    If no actual quotes are brought in as evidence, if no reports of actual damage to Israel or the US, we need to simply regard
    HRH’s comments as ad hominid attacks, nothing else.

    Personally I have zero patience with the current Iranian government’s lack of democratic policies. But if those policies are abhorrent, we should shun Saudi Arabia as we do North Korea. FYI— NK has no oil.

    But to give one frightened state, Israel, tacit permission to wage one *nuclear war to prevent a possible future
    attack is preposterous. Or, if we were to consult mental health providers I’m guessing
    those ‘experts’ might offer juicer medical diagnosis.

    * Using conventional weapons to attack a
    nuclear weapon inevitably scatters nuclear material far and wide. ‘dirty bombs’
    Israel cannot stop there, however.
    The US has supplied so called nuclear bunker-busters to destroy entire mountain

    How could any US President regain confidence in the ME after being complicit
    in what surly will be named ‘the second holocaust’?

  4. Speculawyer on Sat, 28th Feb 2015 1:51 pm 

    “Iran would like nothing better then to take Israel’s place as our political Allie and replace Saudi Arabia as America’s prime (ME) crude oil supplier.”

    These are both non-starters.

    “take Israel’s place as our political Allie” – Not gonna happen. Our alliance with Israel is largely identity politics. Jewish & Christian Zionists cling to israel for ancient religious reasons. Shiia Islam . . . not so much.

    “replace Saudi Arabia as America’s prime (ME) crude oil supplier” – We get very little oil from Saudi Arabia. We get most imports from Canada, Mexico, and Venezuela. Saudi Arabia does remain important as a large producer and will continue to remain important no matter what since oil is a fungible commodity.

  5. GregT on Sat, 28th Feb 2015 2:29 pm 

    Saudi Arabia is the second largest exporter of oil to the US after Canada. Imports of Saudi oil accounted for 21% of US net oil imports in 2013. Mexico accounted for 6%, and Venezuela accounted for 12% of US net imports.

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