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Iran begins oil cooperation talks with US, Canada

Tehran has entered into talks with the US and Canada to agree on selling petrochemicals, buying new technologies in the oil industry and also to discuss investments in Iran's oil and gas sector, Iranian media reported yesterday.

Iran's Foreign Minister ‎Mohammad Javad Zarif had previously told Russia 24 TV channel that his country will continue to increase production of crude oil in order to restore its international standing in the oil and gas markets, with a plan to reach the production levels that it maintained prior to the imposition of Western sanctions on the country. 

Iran had declared its intention to raise its daily oil production to 4.7 million barrels per day in the coming years.

In July 2015, Tehran reached an agreement with the P5+1 countries to lift sanctions. 

The European Union and the United States announced on 16 January the lifting of the economic sanctions that were tied to Iran's nuclear programme after the International Atomic Energy Agency declared that Tehran had complied with the terms of the deal. 

 

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