Iran plans to invest $180 billion to revive and renovate its oil, gas and petrochemical industries by 2022, Iran's Minister of Petroleum Bijan Zangeneh said, addressing an energy security summit in Berlin.
"Iran has always been a trusted energy supplier and it wants to regain its position in the energy market," Press TV cited him as saying.
A series of sanctions has reduced Iran’s oil exports to around 1 million barrels per day. Zangeneh noted that the exports must return to the level before the sanctions at minimum of 4 million barrels per day.
According to him, any nuclear deal between the P5+1 and Tehran must include cancellation of all financial and energy sanctions so that Iran regains its share in the global market.
Zangeneh held important talks with German Energy Minister Sigmar Gabriel in Berlin.
