Iran has no plan to cut oil exports-oil minister

VIENNA, Mar 8: Iran has no intention of reducing its oil exports amid a row over its nuclear plans, Oil Minister Kazem Vaziri said today.

''Oil flow is continuing and exports will not be stopped,'' he told reporters after a first session of an OPEC meeting.

''So far there is no reason to change our position,'' he added.

''We have no intention of reducing any of our exports.'' Vaziri said his goal on a deal with China to develop Iran's massive Yadavaran oilfield was to finalise an agreement this year.

''Our effort is to sign it this year and there is readiness from the other party as well,'' he said.

China's Sinopec Corp, has said a Chinese delegation could visit Iran as early as this month to discuss the development of the south Iranian oilfield for a deal which could be worth up to 100 billion dollars.

Vaziri said he was not concerned about any possible impact on foreign investment in Iran were sanctions to be applied as a result of the nuclear row.

''We are not concerned about that...and they (foreign investors) will continue their cooperation with us,'' he said.

''We are signing contracts and there is no reason not to do so.'' Any punitive action against Iran would not affect Tehran's plan to increase its oil output capacity to 5.2 million barrels per day in four years, he added.

He said Iran's current oil output capacity stood at 4.2 million bpd.

REUTERS