Source: Tehran Times
Total SA, Europe's biggest oil refiner, will resume business with Iran if diplomatic talks lead to the removal of sanctions, Chief Executive Officer Christophe de Margerie said at a conference in Abu Dhabi.
The return of Iran to the international community would be beneficial for its neighboring countries including the Persian Gulf Arab states, the top international oil executive has said.
Speaking at the Abu Dhabi International Petroleum Exhibition and Conference (Adipec), Christophe de Margerie, Chief Executive Officer of French energy company Total, said that while his comments may not be welcomed by some in the Persian Gulf Cooperation Council (PGCC) region, it was important to understand the advantages of sanctions against Iran being removed.
"Having Iran back in the international community will be good news," he said on a CEO panel in Abu Dhabi alongside fellow oil and gas executives.
Iran has significant gas reserves and could play an important role as an energy exporter as global energy demands increase.
Iran becoming a mass energy exporter is largely dependent on the P5+1 discussion that failed this week.
Meanwhile, Bob Dudley, BP Chief Executive Officer, said discussions of Iran re-entering the global community were "part of the world of change".
Although he acknowledged that Iran "obviously has a lot of resources", he sidestepped the potential for BP to return to Iran if sanctions were lifted. "We already have lots to do in the region," he said.
Iran was the sixth-largest producer in OPEC last month with 2.6 million barrels a day of output, a separate Bloomberg survey of analysts and companies shows. That's down 565,000 barrels from June 2012, when it ranked second.
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