That made Iran the third-biggest exporter of crude within OPEC, behind Saudi Arabia and Iraq.
Iran had been able to safeguard its oil industry against such threats over the past few years, Zangeneh was quoted as saying by Xinhua news agency.
Meanwhile, state-run oil marketing firms have kept prices of transport fuel unchanged since April 24, temporarily suspending the dynamic daily pricing regime, despite a rise in worldwide rates, to avoid panic among consumers, Indian Oil Corp (IOC) Chairman Sanjiv Singh said on Tuesday.
The US plans to impose new sanctions against Iran, which produces around 4 per cent of global oil supplies, after abandoning an agreement reached in late 2015, which limited Teheran's nuclear ambitions in exchange for removing US-Europe sanctions.
Trump's decision to immediately reimpose sanctions on Iran could impact their ability to export oil. Our trade with Iran has remained at even levels. An exit has raised concern that Iranian oil exports could be cut, putting upward pressure on prices.
Other nations that do business with Iran also could face US sanctions.
USA presidentDonald Trump on Tuesday pulled out of a 2015 worldwide deal with Iran, making investors nervous about rising risks of conflict in the Middle East and about oil supplies in a tight market.
Iran produced about 3.8 million barrels of oil per day in April, according to the latest S&P Global Platts OPEC survey. Prices have gained over 8% over the past month and 15% since the beginning of the year. Weekly US crude oil production C-OUT-T-EIA; hit another record last week, climbing to 10.7 million barrels per day (bpd).
Under the financial sanctions, European companies will have 90 to 180 days to wind down their operations in Iran, or they will run afoul of the American banking system.
A number of French firms have have signed billion dollar agreements with Iran since the nuclear accord was signed in 2015.
Deliveries in the Memphis proposal involve only aircraft parts at the airport and the 4,500-acre Shelby Farms Park in Memphis. And it comes as people find more reasons to cast drones into the sky - from aerial inspections of all kinds to the Olympics .
If in the end crude oil remains at $68-$70/bbl, prices will not be that much more expensive this summer than they are now. DeHaan did warn prices may spike again depending on what President Trump decides in regards to the Iran Nuclear deal .
One year they were in the locker room at the Byron Nelson Classic when Mickelson challenged Woods to anything at their disposal. Although Woods' accomplishments are the stuff of legend, he and Mickelson crossed paths rarely in those prime years.
Jacqueline Ades of Phoenix was arrested Tuesday and slapped with charges of threatening and intimating, stalking and harassment. She said that she "knew her statements were insane and that she would return to Florida when released", the report alleges.
That game had been the longest in AHL history, and it ended when Ryan Potulny scored 2:58 into the fifth overtime. With the win, the Phantons took a 3-1 lead in the best-of-seven Atlantic Division Finals series.
Although Schneiderman denied the allegations of physical abuse, he immediately resigned within hours of the article's publication. Fourth woman: A prominent lawyer, says Mr Schneiderman slapped her with force after she rebuffed his advances.
However, a high-ranking Barcelona source told ESPN FC they "can't possibly believe that is true" at this moment in time. In an official statement , CEO Gil Marin expressed the Red's stance on Griezmann.
The fifth-ranked school in the country was Basis Flagstaff. "Where we are in the rankings is never the focus", he said. Those practices help ensure the success of the school's exclusively low-income student population, he said.
It has been challenging Google more frequently by launching that services duplicate what Google already offers on Android . Previously, A/C units were listed as thermostats inside the Google Home app, but that's about to change.
China responded with threats of US exports to China in an equal amount and targeting industries that may cause the most impact. Chinese Vice Premier Liu He was involved in the Beijing-based trade talks with the USA trade delegation.
New Google features tap digital smarts
It has been challenging Google more frequently by launching that services duplicate what Google already offers on Android. For example, "I haven't seen you" might be autocompleted to "I haven't seen you in a while and I hope you're doing well".
Vegas Golden Knights vs. Winnipeg Jets Free Prediction 5/12/18
A year ago at this time, the Winnipeg Jets weren't even in the playoffs and the Vegas Golden Knights didn't even have players. Winnipeg is 4-2 on the road in the playoffs after splitting a pair in Minnesota in its opening-round series against the Wild.
Iron Man costume from 2008 film stolen from storage
Downey Jr.is now starring as Iron Man in Avengers: Infinity War , which is already one of the most successful Marvel films ever. The iconic costume also can be seen in the latest production of Marvel Studios' superhero film " Avengers: Infinity War ".
China sentences Anbang's ex-boss to 18 years in jail
But as Beijing sought to curb capital outflow in recent months, Anbang faced increasing pushback in its offshore deal-making. In his closing statement, however, he said he understood and regretted the crimes and requested leniency.
Bodies Recovered after Dam Burst in Kenya
The burst happened in Solai, Nakuru county, 190 kilometres north-west of the capital, Nairobi , late on Wednesday (local time). The government said on Wednesday that the rain had killed 132 people and displaced 222,456 others in 32 counties since March.
Chelsea future out of Antonio Conte's hands
One month ago, it was impossible to imagine we could fight for a place in the Champions League. We know our opponents have more individual quality so you have to find a solution.
Warren Buffett: Bitcoin is "Rat Poison Squared"
Warren Buffett's Berkshire Hathaway bought another 75 million shares of Apple , the billionaire said Thursday. It should be noted that Bill Gates has already changed his attitude to crypto-currencies several times.
Armenia parliament picks opposition leader as PM
Fighting periodically breaks out between those forces and Azerbaijani troops stationed on the other side of a demilitarized zone. In the event of the parliament's rejection of the action plan, the elected PM resigns and new elections of PM take place.