TEHRAN: Iran, unshackled from sanctions last month, “will not forgo its share of the market,” Oil Ministry news service Shana reported, citing Oil Minister Bijan Namdar Zanganeh. He will meet his counterparts from Iraq and Venezuela in Tehran on Wednesday.
Iran is the fifth-biggest producer in the Organisation of Petroleum Exporting Countries (Opec), pumping 2.86 million barrels a day in January. It was producing 3.8 million barrels a day in 2010, before international sanctions were imposed on its exports.
Iran plans to increase daily exports by 1 million barrels this year. It expects to achieve its target of increasing it by 500,000 barrels a day by March 20, Shana reported on Wednesday, citing Roknoddin Javadi, managing director of National Iranian Oil Company.
