Tehran Will Use All Possible Means For Crude Oil Export - Iranian Minister

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Iran will not succumb to USA pressure and will use every possible way to export its oil, Iranian Oil Ministry's website SHANA quoted Oil Minister Bijan Zanganeh as saying on Sunday.

"We will use every possible way to export our oil and we will not succumb to America's pressure because exporting oil is Iran's legitimate right", he said.

Total had planned to invest $1 billion under its 2017 contract with Iran, but backed out of the project amid pressure from Washington, which has reimposed us sanctions on Tehran in response to its nuclear and ballistic missile programs and is calling on other countries to stop doing business with Iran.

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With Total's withdrawal of the pact, China's firm CNPC had taken over all France's stake, but now Petropars will develop the section alone, Zangeneh said.

The South Pars field deal seems to be the latest business victim of the United States' pressure campaign on the Islamic Republic, following President Donald Trump's withdrawal from the landmark 2015 International Iranian nuclear deal with world powers aimed at curbing nuclear programme in exchange of sanctions relief.

The first phase of the development project of Azar oil field, in western Iran, is expected to be completed by the end of the current Iranian calendar year (March 19, 2020), managing director of Iran's Petroleum Engineering and Development Company (PEDEC) said.

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Since then, Washington has reimposed sanctions on Tehran's oil exports.

Iran holds the world's second-largest known reserves of natural gas and the world's fourth-largest oil reserves. "Our mutual enemy is outside the Middle East". Tensions between the two countries flared after Saudi Arabia blamed Iran for an attack on Saudi oil facilities on September 14., a charge Tehran denies. "I have no problem to meet with Saudi Arabia's oil minister", Zanganeh said.

"We have no dispute with Saudi Arabia ..."

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Iran's Atomic Energy Organisation (AEOI) reiterated on Sunday the nation would reduce its obligations under the agreement farther in the event the European parties to the pact failed to meet claims to protect Iran's market from USA sanctions.

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