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Commodities Briefing - Categorized | Oil, People more

Iran oil minister vows to revive output as he eyes price war

Posted on 23 August 2013

Bijan Namdar-Zanganeh is on a mission to make up for the last eight years. In his first few days as oil minister in President Hassan Rohani’s new government in Tehran, the 61-year-old initiated plans to revive oil production to pre-2005 levels, hinted at a price war to win old customers and brought back managers sidelined by the previous administration.
“Revival of Iran’s lost oil markets is among my top priorities,” Zanganeh told the Fars News agency this week. “We only ask those who have replaced us in the world’s oil markets to know that when we are reentering these markets they will have to accept that oil prices decline or they should reduce their production to create enough space for Iran’s oil.”……………………………………….Full Article: Source


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