Iranian Minister on Energy Cooperation Opportunities with the US: Anything is Possible

ILLUSTRATION UNSPLASH/mostafa meraji

JAKARTA - Iranian Oil Minister Mohsen Paknejad has opened the door to cooperation in the oil and gas sector with the United States, a rare statement amid the long-standing tensions between the two countries.

"Anything is possible," Paknejad said, quoted by local media on Friday, February 20, when asked about the prospects for energy cooperation between Tehran and Washington.

However, he emphasized that there was no certainty whether bilateral cooperation in the energy sector could be immediately realized.

The statement comes amid indirect talks on Iran's nuclear program between Tehran and Washington mediated by Oman.

The latest round was held in Geneva on Tuesday, weeks after the initial meeting in Muscat.

Both sides acknowledged progress in discussing basic principles and called the dialogue a step forward to resolve the long-standing impasse over Iran's nuclear program.

The semi-official Tasnim news agency reported that Iran's Deputy Foreign Minister for Economic Diplomacy Hamid Ghanbarimengatakan in a meeting at the Iranian Chamber of Commerce that common interests in the oil and gas sector, joint energy fields, mining investments, and aircraft purchases were part of the framework of discussions with the US.

Iran's oil industry has for years been subject to heavy sanctions by the US and European countries, so most of its exports are diverted to regional partners, especially China and Russia.

Iran has one of the world's largest reserves of oil and natural gas. A number of surveys place it in second place for gas reserves and third for oil reserves globally.

Iran and the US have not had official diplomatic or trade relations since the 1979 Iranian Revolution, which overthrew the US-backed Pahlavi government, followed by the hostage-taking of the US Embassy in Tehran.

A number of analysts have warned that the chances of the first energy cooperation since 1979 are still low, given that the Oman-mediated negotiations have not resolved the nuclear dispute.

Rising regional tensions, including massive US military deployments and Iranian military exercises, also continue to overshadow the negotiation process.