No decision to lower Iran's oil export
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E-mail Xinhua, July 4, 2012
Iranian Oil Minister Rostam Qasemi said no decision has been made on lowering Iran's oil export so far, the semi-official ISNA news agency reported Tuesday.
His remarks came after some local reports said that Iran plans to drop oil exports by 30 percent.
Iran's Deputy Oil Minister and Managing Director of the National Iranian Oil Company, Ahmad Qalebani, said last week that Iran may drop crude output by 20-30 percent due to fixing and maintenance of its oil wells, said ISNA.
Plans to repair the oil wells may come concurrent with the oil sanctions, Qalebani was quoted as saying.
Western media said that Iran has already been forced to reduce its oil exports, which has significantly dropped since the start of this year, due to the sanctions posed by the West on Iran's oil industry.
The United States and the European Union (EU) have imposed several rounds of sanctions to pressure Iran to give up its uranium enrichment activities.
On Sunday, an EU oil embargo against Iran took effect, days after some fresh U.S. sanctions started prohibiting the world's banks from conducting oil transactions with Iran's banks.
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