Iran Will Not Reduce Its Oil Output, Still Optimistic on India

Published October 2nd, 2018 - 07:24 GMT
Selling oil to India under a rupee-rial agreement has not been finalized. (Shutterstock)
Selling oil to India under a rupee-rial agreement has not been finalized. (Shutterstock)

National Iranian Oil Company (NIOC) doesn’t have any plan for reducing oil output and will continue production at its full capacity, NIOC’s Managing Director Ali Kardor said on Sunday.

The official noted that NIOC is accessing all its revenues and oil incomes have even increased compared to last year, Tasnim news agency reported.

After withdrawal from the nuclear deal and reimposing sanctions on Iran, the United States has been trying to cut Iran’s oil production and exports to zero.

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Kardor further mentioned the European Union’s efforts to save the nuclear deal saying that the two sides are trying to come up with various practical solutions which could be used in different situations.

As for the oil exports to India the official said selling oil to India under a rupee-rial agreement has not been finalized.

Asked about Farzad B project, the deputy noted that NIOC is still in talks with India and the two sides are in a good direction.


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