Iran ready to supply required oil for world market: Official

Tehran, March 12: Mohsen Khojasteh Mehr, head of the National Iranian Oil Company (NIOC), has said that his country is ready to supply the required oil for the world market and stabilise prices. The government has made every effort to regain Iran's oil share in the market and to increase it, Xinhua news agency quoted Mehr as saying to local media.

"Necessary measures are being taken for the sanctions and post-sanctions time" for Iran to return to the world market, he was quoted as saying. Iran's position in supplying the world with oil is special, the NIOC chief said, adding that European refiners were confident that Tehran is a sustainable supplier of energy.

"At the NIOC, we are ready to meet the needs of the European companies, along with other companies," he noted. Iran is fully prepared to supply whatever the market wants from Iran's oil, Mehr stressed. Iran's oil industry and its exports have been under US unilateral sanctions since summer 2018, after the former President Donlad Trump withdrew from the 2015 nuclear deal.