EghtesadOnline: Iran has never been a threat to energy security, nor will it ever pose a risk to it, as insecurity in the region is against its national interests.
EghtesadOnline: The letter of association drawn up to clarify the terms of cooperation between OPEC and non-OPEC members is not binding and will not impact the half-a-century old organization.
EghtesadOnline: Members of the Organization of Petroleum Exporting Countries should hold consultations among themselves first on oil policy before striking deals with producers outside the bloc, Oil Minister Bijan Namdar Zanganeh said on Monday before leaving Tehran to attend the 176th meeting of OPEC in Vienna, Austria.
EghtesadOnline: The global oil market is “unstable and fragile”.
EghtesadOnline: The government has no plans to remove Oil Minister Bijan Namdar Zanganeh from his post, the government spokesman said on Monday.
EghtesadOnline: The United States has made a major error of judgment by politicizing oil and using it as a weapon in already fragile international oil market.
EghtesadOnline: Oil Minister Bijan Namdar Zanganeh said Monday US sanctions on Iran and Venezuela plus the renewed military conflict in Libya are contributing to instability in the international oil markets.
EghtesadOnline: Rationing and higher prices are needed to help reduce fuel consumption, the oil minister said. "There are a number of proposals on the table but no decision has been taken because of a lack of consensus,” Bijan Namdar Zanganeh was quoted as saying by ISNA.
EghtesadOnline: Iran's Oil Minister Bijan Namdar Zanganeh will attend a meeting of OPEC and non-OPEC committee that monitors output compliance, known as JMMC, in Algeria in September.
EghtesadOnline: Iran's Oil Minister Bijan Namdar Zanganeh said OPEC may need to hold an extraordinary meeting, if the organization of oil producers fails to prevent member countries from adjusting their crude production without approval.