Neither Saudi Arabia, nor other producers can replace Iranian oil: Zangeneh
Video     Photos     Pakistan     World     Islam     Health     Crime     Islamic News     Business     Society     India     Travel     Middle East     Sport     sci/tech      Contact      RSS
Search

Decision to assassinate Arafat approved by Saudis: Former senior advisor

Persian Gulf kingdom sought to buy Israeli Hermes attack drones: Report

India shifted BLA commander to Afghanistan, claims Dr Jumma Marri

Indian troops martyred 95,238 Kashmiris in IoK since January 1989

India end Australia Test drought in nail-biter

“PM Khan tried to get me killed”: Serious accusation or a hilarious joke?

NO PLACE IN ISRAEL SAFE FROM HIZBULLAH MISSILES: NAIM QASSEM

Is Punjab Government giving special treatment to Shahbaz Sharif?

MYANMAR BECOMES HELL FOR KACHIN CHRISTIANS AFTER ROHINGYA MUSLIMS

DAESH TERRORISTS' RUSSIAN WIDOWS SEEK RETURN TO THEIR COUNTRY

SAUDI FM REJECTS TURKISH DEMAND FOR KHASHOGGI MURDER SUSPECTS’ EXTRADITION

NEW ME SECURITY PACT FOR US ALLIED ARAB REGIMES BEING WORKED OUT

After Trump's letter to Imran, US tirade against Pakistan continues

HOUTHI ANSARULLAH OPEN FOR MORE TALK IF SWEDEN PROCESS YIELDS: SALAM

PAKISTAN FOREIGN MINISTER FORESEES RESTORATION OF US AID

KP CM SEEKS REPORT ON TALIBAN EXTORTION COMPLAINTS

MBS: My strange experience of teaching the Saudi crown prince

PM Imran to review ministries’ performance every three months

PGCC should take Kuwait approach, avoid nonsense: Spox

Asian Classic Power-Lifting: Baig ends Pakistan’s medal wait after 15 years

Allocation of idle LNG capacity to private sector can save $100m

PML-N’s last ditch efforts to save its Quaid

Malaysian PM Mahathir defends PM Khan’s statement on ‘U-turn’

Exposure to air pollution can raise risk of miscarriage, study warns

Imran ‘India’s best bet’ after Pervez Musharraf: ex-Indian spy chief

We lost Test series against New Zealand due to our own mistakes, says Sarfraz

Saudi Arabia rules out extraditing Khashoggi case suspects

US needs ‘puppet’ like Saudi Arabia to achieve global domination: Analyst

Hezbollah: No spot in Israel safe from our missiles

Do not recommend leaving Afghanistan, says US military chief

Speaker Asad Qaisar meets Iranian President, counterpart in Tehran

US accuses Huawei CFO of Iran sanctions cover-up

Atletico, Sevilla go joint top with Barca

Sheikh Rasheed stirs controversy over information portfolio

Now, visa-free travel to this North American country

The deal behind the doors: PML-N looks ready to show flexibility on PAC chairman issue

Larijani: US creating terrorist groups

Punjab Will Have Uniform Syllabus By March 2020

Govt framing national tariff policy to boost exports

Two Iranians nominated for best Asian futsal coach

Over 1,700 arrested in latest 'yellow vest' protests in France

Iran, Russia stress support for private sectors in sanctions era

NAB is an autonomous body: Javed Iqbal

Pakistan may soon clear K-Electric’s sale

PM Imran, President Alvi due in Karachi today

Qatari emir, sultan of Oman not to join PGCC summit in Saudi Arabia

Not a nepotism: Fawad’s brother appointed as Punjab AAG

Who misfed PM Imran Khan?

The Wooing of Jared Kushner: How the Saudis Got a Friend in the White House

Super-Calm Asad Shafiq Equals a Unique Record For Pakistan

Paris in pictures: Burned cars and graffiti littered monuments

Israel authorized sale of spyware to Saudis: Report

Imran Khan’s Pakistan stands up to US like a sovereign nation: Analyst

Regional intelligence services behind Chabahar terror attack

2nd Speakers' Conference releases final statement

Controversy erupts over information portfolio; Chaudhry offers to step down in Rashid's favour

6 injured in blast at Milad gathering in Karachi's Gulistan-i-Jauhar area

Pakistan Army to Acquire FD-2000 Air Defense System With 125KM Range: Report

Can the Israeli regime attack Lebanon ?!

Bahria Town in Trouble? Employees, Residents & Customers protest

Shia Muslims lament inaction against terrorists for Parachinar blast

US Centcom Chief accuses Pakistan of using Taliban as a hedge against India

Top general warns of another 9/11 if US pulls out of Afghanistan

NAB should stay the way it is: Nawaz

China mission launches to far side of Moon

US sanctions against Iranian nation 'clear example of economic terrorism'

Backdoor diplomacy: Saad spills the beans on PML-N strategy to ‘go soft’ on PTI

President House opens door to public

‘Trade potential between Pakistan, India can be engine for prosperity’

Iran to give crushing response to perpetrators of Chabahar terrorist attack

US report highlights murky world of ‘contractors’ in Pakistan

Society’s mindset needs to be changed to combat harassment: Mazari

SC gives Wapda 15 to prepare new PC-1

Imran wants peace in Kabul without fighting others’ war

Govt wants SBP to consult Centre on exchange rate

Can Russia put an end to western hegemony?

Military-Media: Collaboration to counter propaganda?

Trump’s letter to PM Khan: A long-overdue realization

Biography of Shaikh Saduq

US new sanctions to impact Iranian nation: Dorsey

Constitutional rights to be extended to people of Gilgit-Baltistan

Tel Aviv’s ‘northern shield’ operation’s objective in Lebanon border

Hindu Yuva Vahini Announces Rs 1 Cr Reward For Beheading Congress MLA Navjot Singh Sidhu

Funeral ceremony held for two martyrs of Chabahar terror attack

New Zealand beat Pakistan by 123 runs in third Test, clinch series 2-1

From worse to worst: Another scam of Nawaz Sharif revealed

US government, record-holder of defeat against Iran

'Do not want Pakistan treated like a hired gun': PM Khan on US ties

US fails to condemn Hamas at UN General Assembly

Saudi warplanes launch 28 airstrikes on Yemen, kill 3 amid Sweden peace talks

Pakistan army wants US to leave Afghanistan

ISPR DG warns PTM not to cross limits

Chabahar rocked by Bomb attack: 3 killed

PTI minister Azam Swati resigns 'to uphold moral authority'

Is Trump’s letter a failure of his “New South Asia” policy?

Another Karkare? Slain Policeman was investigating Hindu lynchings of Muslims

Gullu Butt hugs Tahirul Qadri: Irony of the day

I paved way for a ‘Dentist’ President: Zardari’s comments spark uproar

Pakistan must ‘save’ CPEC before its too late

Turkey files arrest warrants for Saudi crown prince allies over Khashoggi murder

2018-10-09 02:23:34

Neither Saudi Arabia, nor other producers can replace Iranian oil: Zangeneh

 

Iran’s Minister of Petroleum Bijan Zangeneh dismisses the rhetoric by the Saudi crown prince about Riyadh’s capability to replace sanctions-hit Iranian oil, saying that the global market will never believe such claims.

“It seems that such remarks [by Saudi crown prince] have been made under [US President Donald] Trump’s pressure,” Zangeneh said on Monday.

Saudi Crown Prince Mohammed bin Salman told Bloomberg in an interview on Friday that his country had met its promise to the United States to make up for Iranian oil supplies lost through US sanctions re-imposed after Washington’s withdrawal from a 2015 nuclear deal between Tehran and the P5+1 group of countries.

“Actually the request that America made to Saudi Arabia and other OPEC countries is to be sure that if there is any loss of supply from Iran, that we will supply that. And that happened. Because recently, Iran reduced their exports by 700,000 barrels a day, if I’m not mistaken. And Saudi Arabia and OPEC and non-OPEC countries, they’ve produced 1.5 million barrels a day. So we export as much as 2 barrels for any barrel that disappeared from Iran recently,” he said.

In reaction to bin Salman’s claims, the Iranian minister of petroleum said “neither Saudi Arabia nor any other [oil] producer” have such a production capacity.

“The market and the increase of prices are the best evidence that the market faces a shortage and it is worried about a severe shortage of oil supply,” Zangeneh added.

“What Saudi Arabia had been supplying the market with, were not from [its] spare capacity but from tapping its oil stocks,” he pointed out.

Trump announced in May that Washington was pulling out of the nuclear agreement, officially known as the Joint Comprehensive Plan of Action (JCPOA), which lifted nuclear-related sanctions against Tehran in exchange for restrictions on Tehran’s nuclear program. The deal had been signed between Iran and the five permanent members of the UN Security Council — the United States, Britain, France, Russia and China — plus Germany in 2015.

A first round of American sanctions took effect in August, targeting Iran’s access to the US dollar, metals trading, coal, industrial software, and auto sector. A second round, forthcoming on November 4, will be targeting Iran’s oil sales and its Central Bank.

The Trump administration is pushing on all buyers of Iranian oil to cut imports to zero. But Iran, OPEC’s third-largest producer, has repeatedly announced that its oil exports cannot be reduced to zero because of high demand levels in the market.

Iran has blamed Trump for oil price hikes, but the US president has pointed the finger at OPEC and called on the oil-producing body to boost output.

Zangeneh further said any country that makes claims about supplying the market with more oil to replace lost Iranian exports had no “determining impact” on the market, but would lead to short-term psychological outcomes.

These claims aim to satisfy the US and express support for Washington’s sanctions against Iran, he added.

Iran has warned that if it were not able to export its crude oil through the Strait of Hormuz, no other country would be able to do so, threatening to block the strategic strait.

In an interview with Russia’s Sputnik news agency, Iran’s Deputy Foreign Minister Abbas Araqchi warned of the “serious effects” of the upcoming US sanctions against Iran on oil prices and the entire Middle East.

Obviously, all countries in the Persian Gulf region want to sell their oil, and the world is in need of this region’s oil and other energy resources,” the top Iranian diplomat said.

He emphasized that any arrangement for the sale of oil in the region “should be inclusive” and added, “If you exclude one country [and] make sure that one country’s oil sale comes to zero, as President Trump wants, that would create problems for the whole region. This is an obvious fact.”

A US government official said on Friday that the Trump administration is actively considering waivers on sanctions it will re-impose next month for countries that are reducing their imports of Iranian oil.

Categories:  
Tags:   saudi arabia ، Zaneneh ،
From other agencies (RSS Reader)

احتساب اور کرپشن

- ایکسپریس

Swindler arrested

- The News