TEHRAN - Managing director of National Iranian Oil Products Distribution Company (NIOPDC) said necessary measures are being taken for the country’s private sector to take part in swapping oil products, IRIB reported on Saturday.

Speaking at a meeting with the private sector representatives, Seyed Mohammad-Reza Mousavi-Khah noted that private companies active in the field of exports and swap of oil products will be identified through a public notice and assessed for future collaboration.

Earlier in July, First Vice President Eshaq Jahangiri announced that in a move to beat U.S. sanctions, Iran will let private companies to export crude oil.

Speaking in a ceremony to celebrate the national day of industry and mine, the official said that Iranian crude will be offered on the bourse and the private sector can export it, IRNA reported.

“Anyone trying to take away Iran’s oil market (share) would be committing great treachery against Iran and will one day pay for it”, Jahangiri warned in an open reference to Saudi Arabia.

The U.S. wants to cut Iran’s oil export, but everyone, with even a limited knowledge of international affairs, knows that such thing is impossible, the official added.

EF/MA