MP: Iran Right in Strategy of Reviving Its Share in Market

“Sanctions made pace of Iran’s oil production and exports sluggish. So, revival of the oil market was a must. Government did its job well because we should regain our production and exports positions,”

Jamali told Shana that Iran has been among founding OPEC members and in addition to its proven oil and gas reserves, it is a rich country in comparison with other OPEC members in terms of population and land.

He said absolutely, Iran’s standing in oil should be revived and in this connection, government tries to bring Iran’s share in the oil market to the pre-sanctions level; almost all oil exporting countries have accepted this.”

He noted that other countries occupying Iran’s position in the oil market should bring back their oil export to the former level.

Major portion of Iranian oil fields have reached second half of their life span, said the lawmaker, adding that hence, their renovation and support is necessary because under condition of sanctions, the country faced limitation of tools and relied on its domestic experts.

He added that renovation of oil fields will be possible in light of investment. 

“Iranian and foreign investors can be active in this concern but it should depend on security of short-term and long-term profits.”