(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.”


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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.”


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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.”

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