Iran rebuffs North Korea crude oil deals

Iran dismisses claims that it exports crude oil to North Korea.

Iran Strait of Hormuz
Iran Strait of Hormuz

Iranian deputy oil minister for international and commercial affairs Ali Majedi has denied any claims the Iran exports crude oil to North Korea.

"I categorically deny exports of crude oil to North Korea," said Majedi.

Majedi’s stand contradicts an announcement made by former Iranian oil minister, Rostam Qasemi who said that the country would export to crude oil to North Korea. Qasemi made the statement at the 18th International Oil, Gas, Refining and Petrochemical Exhibition in April 2013.

“We have had, and continue to have, negotiations with the North Koreans who have requested to buy Iranian oil. We are discussing the procedure and we do not have any problem selling them oil,” said Qasemi.

Iranian Oil Minister Bijan Namdar Zanganeh also told reporters that the Geneva Agreement which was signed last November between Iran and the world powers does not cite limits on Iran’s crude oil exports.

“Iran has made no agreement in Geneva on the level of (its) oil exports. We will not accept any limitations on our oil exports dictated by others,” said Namdar Zanganeh.

He restated that Iran will supply its crude oil to the market at the maximum level possible.

Iran holds the world’s fourth-largest proven oil reserves and the second largest natural gas reserves. It currently exports an estimated 1.2 million barrel of crude oil per day.

Newsletter

Most Popular

Digital Edition

Oil & Gas Middle East - September 2020

Subscribe Now