Interaction for energy security and stability

292  Views   |   Friday, February 23, 2018

Tehran, Feb 22, Source: Iran Petroleum monthly - Iran's landmark 2015 nuclear deal with the six world powers, dubbed the Joint Comprehensive Plan of Action (JCPOA), was one of the most significant international agreements in recent years, which positively impacted Iran's politics and economy.

Interaction for energy security and stability

The most important achievement of this agreement was the proof of the fact that negotiations and dialogue were the best solution for settling any discrepancies. Besides extensive political and economic advantages, the JCPOA remarkably affected the petroleum industry and oil market. Market stability and balance were just the most visible results of the implementation of the agreement in January 2016.

Iran's return to oil market, expansion of cooperation in the development of Iranian oil fields, the contribution of major proprietors of capital and technology in the implementation of policies of development of oil, natural gas and petrochemicals sectors in a country extremely rich in oil and gas and a country of high energy weight opened a new window to stability and security of energy future.

Over the past one year, despite fabrication of pretexts by US politicians to hinder the JCPOA implementation and stonewalling efforts for international cooperation and interaction, the Iran's Petroleum Ministry has shown that compliance with agreements, and cooperation based on mutual interests would be the only solution to maintaining stability and balance.

International desire for partnership in Iran's major oil, gas and petrochemical projects is indicative of Iran's successful oil diplomacy, a path whose continuation would be important alike for both producers and consumers of energy carriers.

The only dark spot in this bright future is US imbalanced policies and the American government's non-compliance with international agreements. The US politicians have shown that, in recent years, they have not been paying attention to economic realities of energy markets and sought in vain to impose their illogical views on the world.

The most important common obligation of both energy producers and consumers is to prevent uncertainty and undesirable volatility in the energy markets.

The brightness of future peace and security in all political and economic sectors, particularly energy market stability, is highly tied to interaction, cooperation and empathy. It is a collective duty upon everyone to contribute to safeguarding this important achievement.