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Iran's oil sector looks to foreign markets

Aug. 20, 2013 at 8:15 AM   |   Comments

TEHRAN, Aug. 20 (UPI) -- The managing director of the National Iranian Oil Co. called on his international affairs director to work on a new framework for crude oil exports.

NIOC Managing Director Ahmad Qalebani appointed Mohsen Qamsari to serve as his international affairs director.

The managing director was quoted by the Oil Ministry's official Shana news agency as saying Tuesday that Qamsari was tasked with "presenting a comprehensive strategy and program on NIOC's role in international markets and introducing a new framework for boosting export of crude and oil products."

Iranian Oil Minister Bijan Zanganeh said he would work to lay the groundwork so Iran could cooperate better with international oil companies. He said he was determined to hit a target rate of 4 million barrels per day for oil production during his term.

The Organization of Petroleum Exporting Countries said in its August market report Iran produced approximately 2.6 million bpd in July.

Iranian President Hassan Rouhani vowed to be more engaged with the international community than his predecessor, Mahmoud Ahmadinejad.

Iran's economy is struggling to cope with Western sanctions designed to starve Iran of oil revenue it could use to finance a controversial nuclear program, which Iran says is for peaceful purposes.

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