“Snapback will not impose new direct restrictions on oil sales,” Petroleum Minister Mohsen Paknejad told reporters about a bystander at the Cabinet meeting. “When we face situations that require action, we are prepared.”
He emphasized that Iran’s oil sales team is made up of “the most professional individuals” especially in opposition to and neutralizing sanctions. “We’re not too worried, people shouldn’t worry either,” he said.
Paknejad added that the restrictions under snapbacks will primarily target financial, commercial and maritime transport conditions, rather than rough sales per se. “If snapbacks are active, there can be some difficulties, but the measures are ready,” he said.
Addressing the winter gas shortage, Paknejad said the supply and demand imbalance was the result of 30 years of insufficient investment and energy management. “This is not a product of a year or two,” he said. “We are currently accelerating measures involving cooperation from related agencies.”
He acknowledged that due to the growing demand for households and commercials in the winter, the country cannot fully meet its consumption needs with natural gas alone. “We will compensate with alternative fuels,” he said.
The minister said at the power plant, Iran uses fuel baskets of natural gas, diesel and fuel oil. “When gas supply to the power plant decreases, they turn into diesel reserves,” he said. “This year, diesel inventory at the power plant has increased by more than 80% compared to the same time last year, so we are expected to spend the winter with minimal challenges.”
MNA