11:47 GMT +323 June 2017
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    General view of part of the Tehran's oil refinery south of the capital Tehran, Iran

    Gazprom Interested in Working in Iran Once Sanctions Lifted

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    Russia’s Gazprom Neft oil company's chief executive Alexander Dyukov said that if the sanctions against Iran are removed, the market will see an increase in oil supply – but it will not have a serious impact on global oil prices.

    ST.PETERSBURG (Sputnik) — Russia’s Gazprom Neft oil company is interested in working in Iran once the international sanctions imposed on the country are lifted, the company’s chief executive Alexander Dyukov said Thursday.

    “Absolutely every company is interested in Iran and we are interested in it too, because we are present in this region and we are working in Iraq. [Our] interest will depend on the conditions of work, so the Iranian side will have to make up its mind and formulate the conditions,” Dyukov told journalists.

    According to Dyukov, if the sanctions against Iran are removed, the market will see an increase in oil supply – but it will not have a serious impact on global oil prices.

    “This is a serious volume but I cannot say that this additional production is significant enough to be able to seriously influence world price levels,” he said.

    Iran and the P5+1 group of international negotiators that comprises Russia, the United States, China, the United Kingdom, France and Germany are currently in talks on a comprehensive agreement aimed at ensuring the peaceful nature of Iranian nuclear activities.

    If signed, the deal will see the gradual lifting of sanctions imposed on Tehran by the international community over fears that the country might be developing nuclear weapons under the guise of a civilian nuclear energy program.

    The deadline for reaching a final comprehensive nuclear deal between the international negotiators and Tehran is set for June 30.

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    Tags:
    Oil, Gazprom Neft, Alexander Dyukov, Iran, Russia
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