Prospect of sanctions' end highlights woes of Iranian oil and gas industry

Mansour Kashfi Kashex International Petroleum Consulting Dallas Bijan Namdar Zanganeh, after being endorsed by the Iranian parliament as the new oil minister, said, "The revival of Iran's lost share in the oil market is my top priority." At the end of the Organization of Petroleum Exporting Countries ministerial conference in Vienna on Dec. 4, 2013, Zanganeh said, "Under no circumstances will we give up our rights on this issue; we will reach 4 million b/d [of oil] production, even if the crude price falls to $20/bbl, and we will be able to reach our presanctions level of exports early next year." The minister openly raised the prospect of a production war among OPEC m...

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