(Persia Digest) – The CEO of the National Iranian Oil Company (NIOC) has pointed out that Iran has access to all its oil revenues and announced the news of talks with a Russian company for an IPC.
Ali Kardar explained: “Iran has access to all its oil revenues without restrictions with no change. Its revenues have seen a 40 percent increase this year as compared to last year. All our revenue from our oil sales are presently at our disposal.”
► Iran's policy to counter oil sanctions is working
He continued: “Various strategies are also being planned for any probable future complications.”
He underlined the importance of continued oil production in Iran, saying: “Iran has no plans to stop production.”
The NIOC CEO also talked about Yuan transactions with China and its presence on the Shanghai Stock Exchange (SSE), adding: “China is not serious yet. We are also waiting for the market to become active to participate.”
Kardar also explained about insurance for Iran's oil shipments: “Insurance is provided entirely by Iran and we fully accept all the risks.”
He said about receiving rupees from India for Iranian oil: “This has not been finalized yet and the Indians are still paying us in euros.”
He pointed out that negotiations between NIOC and India to develop the Farzad B oilfield is ongoing.
About the next IPC, Kardar explained: “We are conducting discussions about two to three fields with a Russian company. Two of the projects are new. But as we already have ready texts for mutual projects with them, contracts will be signed if the technical negotiations are completed.”
Click here for more economic news.