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Wednesday, May 1, 2024 12:43 GMT
The Iranian oil ministry announced that the country has increased exports of crude to over 1 million bpd despite sanctions, stressing that supply of crude to the markets will continue regardless of the results of the talks between Tehran and the world powers in Vienna.The ministry said that the government has managed to avoid funding from the Central Bank of Iran (CBI) in the first months of the current Iranian calendar year (started from March 21) for the first time in the past years, thanks to an increase in oil export revenues.It declared selling oil abroad without any interruption despite the difficult circumstances of sanctions, amid reports that exports have been dropping over the past months.The ministry also said it welcomes any breakthrough in the talks for the revival of the 2015 nuclear deal and removal of sanctions, but pledged to advance its exports regardless of the results of the talks.Last month, Iranian Oil Minister Javad Owji said that his country was selling crude at a good price, adding that new markets had been found for exports. Iran has its own customers in the oil market and continues selling oil at a good price, Owji told reporters after a cabinet meeting in Tehran. New markets have been identified, he added.Asked about the government's plan for cooperation with the knowledge-based companies, Owji said that regulations have been planned to support the companies active in the areas of oil and gas. He also said that consultations by the Iranian Foreign Ministry with Kuwait and Saudi Arabia are underway about Arash Gas Field to settle dispute over the issue.Meantime, Owji played down the reported Russian attempts to overtake Iran’s share of the crude market, saying that it will take time for Russia to find customers for its crude given the tough sanctions imposed on its energy sector by the West. Tehran has “its own customers” and “will powerfully continue its sales of oil at good prices”, he added. - Fars