BAKU, Azerbaijan, April 20. Iran is currently doing everything in its power to maintain crude oil sales, said Esmail Baghaei, Iran’s Foreign Ministry spokesperson, during a press conference held in Tehran on April 20, Trend reports.
According to him, Iran's Oil Ministry employees have been closely monitoring oil sales since the start of the war against Iran and are striving to manage them as effectively as possible.
Meanwhile, as no tangible progress was made in the nuclear negotiations between the U.S. and Iran, the situation escalated on February 28, when the United States and Israel launched military airstrikes against Iran. In retaliation, Iran initiated missile and drone strikes targeting Israeli and U.S. installations in the region. Following these developments, a two-week ceasefire agreement was brokered on April 7 through Pakistan's mediation. However, during subsequent talks between the U.S. and Iran in Islamabad on April 11, no consensus was reached.
Iran's total hydrocarbon reserves amount to 1.2 trillion barrels. The available production facilities allow Iran to extract 340 billion barrels. Iran can utilize about 30% of its reserves, while 70% remain untapped underground.