Iran will not comply with US sanctions as they are ‘illegal’: oil minister

Iranian Oil Minister Bijan Zanganeh said on Thursday US sanctions against his country were "fully illegal." (AFP)
Updated 10 January 2019
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Iran will not comply with US sanctions as they are ‘illegal’: oil minister

BAGHDAD:  Iranian Oil Minister Bijan Zanganeh said on Thursday US sanctions against his country were "fully illegal" and Tehran would not comply with them.
"We believe that we should not comply with the illegal sanctions against Iran," Zanganeh told a joint news conference in Baghdad with his Iraqi counterpart, Thamer Al-Ghadhban.
Zanganeh also said Iran would not discuss the volume or destination of its oil exports while it remained under US sanctions.
"We have discussed today how to improve cooperation with Iraq on different aspects, especially on oil issues," Zanganeh said.
Al-Ghadhban, who also said the discussions had touched on energy issues, added that Iraq had not yet reached an agreement with Iran to develop joint oilfields.
He said a decline in global oil prices had stopped and that he expected them to rise gradually.
The Organization of the Petroleum Exporting Countries, of which Iran and Iraq are members, and its Russia-led allies agreed on Dec. 7 to cut output by more than expected, despite pressure from US President Donald Trump to reduce oil prices.
The OPEC deal had hung in the balance on concerns that Iran, whose crude exports have been depleted by US sanctions, would receive no exemption and block the agreement.
Ghadhban said any decision relating to future OPEC cuts would depend on monitoring price developments.

 

 

 


Rocket hits site of foreign oil firms in Iraq’s Basra

Updated 8 min 5 sec ago
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Rocket hits site of foreign oil firms in Iraq’s Basra

  • The rocket hit Burjeisa residential and operations headquarters west of Basra
  • Police said the rocket was a short-range Katyusha missile

BASRA: A rocket landed at the headquarters for several global major oil companies, including US giant ExxonMobil, near Iraq’s southern city of Basra early on Wednesday, wounding two Iraqi workers, police said.

The rocket hit the Burjesia residential and operations headquarters west of the city, they said. There was no immediate claim of responsibility for the attack.

A security source said Exxon was preparing to evacuate some 20 foreign staff immediately.

Other companies operating at the site include Royal Dutch Shell PLC and Italian Eni SpA, oil officials said.

Police said the rocket was a short-range Katyusha missile that landed 100 meters from the section of the site used as a residence and operations center by Exxon.

Burjesia is near the Zubair oilfield operated by Eni.

Exxon evacuated staff last month after the United States cited unspecified threats from Iran for a decision to take hundreds of diplomatic staff out of Iraq.

Exxon had begun returning staff to Iraq, however, before Wednesday’s incident.

(developing)