Iran oil minister opposes emergency OPEC talks



AGENCE FRANCE PRESSE

Published — Sunday 21 April 2013

Last update 21 April 2013 3:28 pm

| نسخة PDF Print News | A A

TEHRAN: Iran sees no need for an emergency meeting of OPEC over a recent drop in crude prices before the producers’ annual session at the end of May, Oil Minister Rostam Qasemi sai.
“No extraordinary meeting is needed as the May 31 meeting is coming up, and the price of oil had not gone below $ 100 per barrel for a long time,” Qasemi said on the sidelines of an oil and gas trade fair in Tehran.
In the last meeting of OPEC, held on December 12, oil producers decided to hold an emergency session if oil prices fall below 100 dollars per barrel, Qasemi said.
His remarks came after Venezuela’s top oil official reportedly said earlier that OPEC officials were weighing holding a special meeting on the market if prices continue to fall.
The Organization of Petroleum Exporting Countries (OPEC) is set to meet in Vienna on May 31.
Oil prices gained Friday on speculation that OPEC plans to cut output, recovering somewhat from sharp losses earlier in the week over worries about weakening Chinese economic growth.
In New York, the main contract, WTI crude for delivery in May, added 28 cents from Thursday to end at $ 88.01 a barrel.
In London, Brent North Sea crude for delivery in June gained 52 cents to $ 99.65 a barrel, unable to hold onto a rebound above the $ 100 line earlier in the day.
Iran is OPEC’s fourth biggest producer, after Saudi Arabia, Iraq and Kuwait, according to the group’s data. In 2011, it ranked second.
But under sanctions over its controversial nuclear program, Iran’s output dropped to 2.67 million barrels per day in February, from 2.72 the previous month, OPEC said in April, citing secondary sources.
Qasemi did not talk about the figures but confirmed that Iran’s oil production and export indeed declined in 2012.
“Our export has declined (in 2012) compared to the previous year because the European nations are not buying from us and naturally we have had a decline in oil production,” he said.
“Except for our European customers, we still have our other customers and we are talking to others for new deals,” Qasemi said.
Qasemi said Iran was talking to North Korea to buy Iranian oil.
“We hope to reach an agreement over North Korea importing oil from us,” he said.
North Korea, an ally of Iran since the 1979 Islamic revolution, is also under Western and UN sanctions over its nuclear program.
OPEC had voted to re-appoint Secretary General Abdullah El-Badri to lead OPEC for another year after members failed to agree on a new leader in December.
The world’s biggest oil exporter Saudi Arabia had been battling against Iraq and Iran to have its candidate succeed El-Badri, who has steered the cartel through the world’s financial crisis as its secretary general since 2007.
Qasemi said Iran is also pushing for its own nominee, former oil minister Gholam Hossein Nozari, to take El-Badri’s post.
“We are still in contact with the members about our nominee, since the appointment has to happen on consensus,” he said.

What's happening around Saudi Arabia

JEDDAH: Social media is abuzz with the news of an 80-year-old man who has been relieved of his duties after working for four decades at the Prophet’s Mosque. Citizens have launched a campaign for the man, identified as Moqtada by publishing his photo...
DAMMAM: The World Heritage Committee of the UN Educational, Scientific and Cultural Organization (UNESCO) has added the rock art in Hail to the World Heritage List. The addition was made during the committee’s 39th session in Bonn, Germany, and becam...
Huge projects change the faces of cities and great ambitions help create such projects. Madinah had its date with a quantum leap to usher in a new era of urban development. Such huge projects help achieve formidable civilization advancements and sign...
RIYADH: The Japanese ambassador to the Kingdom, Noriheiro Okoda, has held a meeting with Hashem Abdullah Yamani, president of the King Abdullah City for Atomic and Renewable Energy (K.A.CARE), and discussed bilateral cooperation in the fields of atom...
AL-BAHA: Forty three percent of Al-Baha cannot be developed easily because of the region’s mountainous terrain.This is the view of Khaled Al-Sayegh, undersecretary for construction at the municipality, who was speaking at an event held at the College...
JEDDAH: An official at the Council of Saudi Chambers said the council’s members are discussing a regulation to submit to the Ministry of Labor and other government agencies to deny a number of privileges to companies that force its labor to work unde...
ABHA: With many families wanting new furniture during Ramadan, furniture and interior decorating shops are raising prices to more than double what they were before the month.Homeowner Zaina Mohammed says she used to change her home furniture every Ra...
RIYADH: Saudi Commission for Tourism and National Heritage (SCTNH) President Prince Sultan bin Salman described the first visit by Custodian of the Two Holy Mosques King Salman to Madinah as “historic.”In his comments following the visit which saw th...
MADINAH: Economists expected the volume of investments in Madinah’s economies during the coming few years to reach SR500 billion.The forecasted growth in the population, to reach 2.6 million people after 25 years, and the number of visitors to 12.2 m...
JEDDAH: It seems that many Saudi families are gradually coming to terms with the new reality of living in apartments, as building villas is not possible due to shortage of appropriate land.With the increasing display of housing units by the Ministry...
RIYADH: Migrant rights advocacy group Migrante-Middle East (M-ME) has lambasted their country’s leadership over the claim that the number of overseas Filipino workers are declining due to sustained economic growth in the Philippines.The group has cal...
RIYADH: A charitable foundation called “Smile” will be launched on Sunday night at the Al-Hokair Land in the Saudi capital to make people happy. “The foundation will be launched to make Saudi Arabia a center of smiles,” well-known television host and...
MAKKAH: The Kingdom has seen a sharp rise in the number of Umrah pilgrims to around 6 million from 1.5 million in the last 16 years. Moreover, the number of pilgrims overstaying their visas has come down to about 1 percent. The Ministry of Haj has be...
RIYADH: The King Khalid Foundation (KKF) said here recently that it has financed small enterprises (SMEs) run by 130 widows in some of the Kingdom’s provinces.KKF hosted an iftar party last week for local media at its headquarters in Riyadh at which...
JEDDAH: Prince Abdullah bin Abdul Aziz bin Musaed, governor of the Northern Borders province, has died.He will be buried after Taraweeh prayers in Jeddah on Saturday, the Royal Court said in a statement carried by the Saudi Press Agency. No other det...

Stay Connected

Facebook