2021-09-01Owji Addresses OPEC+ MeetingTEHRAN (NIOC) – Iranian Minister of Petroleum Javad Owji addressed the 20th OPEC and non-OPEC Ministerial Meeting that was held on Wednesday, September 01, 2021 via videoconference.
The following is the full address by Mr. Owji.
In the Name of God the Compassionate the Merciful
His Royal Highness, Abdulaziz Bin Salman, Chairman of the OPEC and Non-OPEC Ministerial Meeting
His Excellency, Alexander Novak, Co-Chairman of the OPEC and Non-OPEC Ministerial Meeting
His Excellency, Diamantino Pedro Azevedo, President of the OPEC Conference
Excellencies, Esteemed Heads of OPEC and Non-OPEC Delegation
HE Mohammad Sanusi Barkindo, Esteemed OPEC Secretary General
It is a great pleasure and honor for me to participate in the 20th OPEC and non-OPEC Ministerial Meeting, for the first time as the Minister of Petroleum of the Islamic Republic of Iran.
I would like to start by expressing my sincere appreciation and gratitude to Their Excellencies, the Chairman and Co-Chairman of the OPEC and non-OPEC Ministerial Meeting, His Excellency the President of the OPEC Conference and His Excellency the OPEC Secretary General for their kind words and warm welcome.
Undoubtedly, efforts made to establish and maintain stability in the global oil market through cooperation and engagement since the beginning of 2017 has brought together OPEC and non-OPEC oil producers. Despite all the pressures emanated from unilateral and illegal sanctions, the Islamic Republic of Iran, as a Founding Member of OPEC and one of the world's major oil producers, has always supported the principle of cooperation and interaction within the framework of OPEC and of course the Declaration of Cooperation (DoC), and Iran has constantly adhered to the principles and objectives of the Declaration of Cooperation. We are of the opinion that maintaining the achievements of the DoC in accordance with the conditions governing the global oil market will be beneficial to producers and consumers, as well as the world economy.
During the past two years, as a result of the outbreak of COVID-19 in the world, the world economy and, consequently, the oil market have suffered significant losses, some of which are still with us. Despite all the ups and downs and the hardships we faced with during the past two years, OPEC and its non-OPEC allies which have signed the DoC, have managed to adhere to their common principles and goals and continue their collective movement to cope with the challenges and instabilities in the global oil market.
In the Islamic Republic of Iran's view, stability and sustainability of the global energy security requires adopting a nonpolitical approach toward oil market. In this way, while creating some sort of delicate balance between the producers and consumers' interests, the objectives stipulated in the OPEC Statute and the OPEC and non-OPEC DoC could be achieved.
As soon as the US government's unilateral illegal sanctions are lifted, the Islamic Republic of Iran is ready to increase its oil production level to the highest possible level in order to compensate for the great losses caused by the US unilateral sanctions. The U.S unilateral and illegal sanctions against the Islamic Republic of Iran from April 2018 to April 2021, caused Iran to be deprived of production of about 1.8 billion barrels of oil (according to secondary sources), which resulted in more than $ 100 billion loss of revenues in a time we needed financial resources to meet our necessities including for overcoming COVID-19 outbreak.
The imposition of unlawful and unilateral sanctions by the United States on the two Founding Members of OPEC is in contradiction with the principles and rules of international law, as well as international humanitarian law.
Under the administration of His Excellency Hojjatoleslam val-Moslemin Dr Raisi, the Islamic Republic of Iran firmly keeps on cooperating and interacting with the OPEC and supporting the DoC in order to secure the collective interests of the member countries.
I warmly welcome any collective and/or bilateral cooperation with OPEC and non-OPEC oil producers. As the Minister of Petroleum of the Islamic Republic of Iran, I make every effort to secure the interests of OPEC and non-OPEC oil producers. I am confident that promoting cooperation and solidarity level among us, while facing the climate change challenges, brings about a bright future for both OPEC member countries and non-OPEC producers.
Thank you for your kind attention!