"Before imposing sanctions against Iran, the Islamic Republic used to export 200,000 bpd of oil to Spain," National Iranian Oil Company (NIOC)'s Mohsen Qamsari made the remarks on the sidelines of Oil Minister Bijan Zangeneh meeting with visiting Spanish Minister of Industry, Energy and Tourism José Manuel Soria López.
Three Spanish ministers began an official visit to Iran on Sunday along with a 70-member delegation, including representatives of major businesses such as global energy company Repsol.
They are accompanied by business owners operating in the fields of infrastructure, development and road construction, as well as oil and gas.
According to Iranian figures, trade in the last Persian year which ended in March 2015 stood at $321 million, down from 4.7 billion euros in 2011. Iran’s energy exports make up the bulk of the transactions.
Major European energy companies say they are looking forward to returning of Iran to the market which took in 40% of the country’s oil exports.
The recent conclusion of nuclear talks has triggered a race among the Europeans for new business opportunities in Iran.
Ministers from Germany, France, Italy and UK have traveled to Tehran with executives of major companies while further visits are on the cards.
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