US Exit from JCPOA Not to Affect Iran’s Oil, Gas Exports: Zanganeh
- May, 11, 2018 - 14:15
- Economy news
TEHRAN (Tasnim) – Iranian Oil Minister Bijan Namdar Zanganeh said the recent move by the US administration to leave the 2015 nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), will not have an impact on the Islamic Republic’s oil and gas exports.
“With the US withdrawal from the JCPOA, nothing noteworthy will happen to the country’s oil, gas and gas condensates and the revenues (from the exports) will not change,” Zanganeh said in a televised program on Thursday night.
The Iranian oil minister further pointed to the country’s self-sufficiency in producing gasoline, saying that Iran’s condition in this regard is “very good” and the country cannot be put under pressure by the Western sanctions on the product.
He added that the second phase of the Persian Gulf Star gas condensate refinery has come into operation in recent days and is producing 12 million liters of Euro-5 gasoline per day.
In a speech from the White House on Tuesday, US President Donald Trump announced Washington’s withdrawal from the nuclear deal between Tehran and the Group 5+1 (Russia, China, US, Britain, France, and Germany).
Following the controversial decision, Iranian President Hassan Rouhani said Iran weighs plans to remain in the agreement with the other five parties provided that the remaining JCPOA parties ensure its full benefits for Iran.
Earlier this week, Commander of Khatam al-Anbia Construction Base General Ebadollah Abdollahi said the daily output of gasoline at the Persian Gulf Star refinery has reached 22 million liters, adding that the facility processes 240,000 barrels of gas condensates every day.
According to General Abdollahi, completion of the refinery would turn Iran into an exporter of gasoline.
The first phase of the refinery was launched in April 2017. Its input, namely gas condensates, are supplied through a pipeline stretching for nearly 400 kilometers from gas refineries in Assalouyeh, located in the province of Bushehr.
Officials describe the Persian Gulf Star as the world’s largest refinery in terms of area.