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Iran Key to Global Energy Market: President Rouhani2016/04/05

TEHRAN (Tasnim) – Iranian President Hassan Rouhani on Monday highlighted the country’s resolve to restore its share in the global oil market, stressing that no one can ignore Tehran's role in the market.

“In the past years, the enemies of the Iranian nation sought to undermine Iran’s capabilities and influence in global energy market,” Rouhani said in an address to a ceremony in Tehran.

However, he added, Iran is a great regional power and an influential country in the field of energy.

Iran will soon reclaim its right and share in the global oil market, the Iranian president vowed.

The remarks came one day after Iranian Oil Minister Bijan Namdar Zangeneh said that the country’s crude oil exports have exceeded two million barrels per day in the wake of the removal of sanctions under the Joint Comprehensive Plan of Action (JCPOA) between Tehran and world powers.

Iran's oil and gas condensate exports are now at more than 2 million barrels per day, Shana news agency quoted Zangeneh as saying on Sunday.

Meanwhile, it was reported on Monday that India, a major importer of Iran’s crude oil, has imported over 500,000 barrels per day of Iran’s oil in March.

Experts believe that the increase of India’s crude imports from Iran indicates that the Islamic Republic is reclaiming its previous market share in the global oil market following the historic nuclear deal.

All nuclear-related sanctions imposed on Iran were lifted after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) reached a nuclear deal on July 14, 2015 and started implementing it on January 16.