OPEC SGImpossibleto RemoveIran from OilMarket
OPEC Secretary GeneralMohammad SanusiBarkindo visited Tehranexactly when Iran’s 24thannual Oil Show was underway. He visited the exhibitiontalked to journalists and thenheld a meeting with Iran’sMinister of Petroleum BijanZangeneh. During the meetingZangeneh told Barkindo: “Iranis an OPEC member just for itsinterests and if certain fellow
members intend to ask OPECto threaten and jeopardizeIran’s interests, Iran willdefinitely react.” The Iranianminister warned that due to“unilateralism” by certainOPEC member states, theOrganization of the PetroleumExporting Countries was likelyto collapse. Zangeneh said hediscussed the problems andfragility of oil market with theOPEC secretary generalHe said they “exchanged viewsrather than making decisionsIn the meeting, Barkindo laidemphasis on the fact that OPECmember states would takedecisions collectively. He saidthat unilateral moves by OPECmember states have alreadyproven to be futileEarlier, Barkindo toldreporters that Iran could notbe driven out of the oil marketsating individualism had noplace within OPECReferring to threats posedto Iran’s oil supply, he saiddiscussions were under way atthe ministerial level and withinthe OPEC Secretariat to studyvarious approaches.
He said it was not thefirst time Iran was facingsuch challenges, adding he
was optimistic Iran wouldovercome challenges this timetoo. Barkindo said OPEC hadbeen faced with challengesregularly ever since itsestablishment six decades agoHe said these challenges hadalways been removed underthe aegis of unity among OPECmember statesCollective WisdomIran sits atop the world’slargest hydrocarbon reservesThe US has imposed verytough sanctions against Iran’spetroleum industry, but it hasfailed to push Iran out of theglobal oil market. Immediatelyafter the US ended sanctionswaivers for the main buyers ofIran’s crude oil, Saudi Arabiaand the United Arab Emirates– both OPEC member states– said they had enough sparecapacity to replace Iran’s oilin the market. Barkindo saidOPEC would take decisionscollectively”, adding thatunilateralism had no placein the OPEC decision-makingprocessHe said OPEC would make
decisions based on “collectivewisdom” after consultation
with experts at the Secretariatand member states.
Barkindo said “industry