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Iran will develop oil industry despite US sanctions, says Iranian Oil Minister Zanganeh


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Iran is determined to develop its oil industry in spite of US sanctions imposed on the country, Iranian Oil Minister Bijan Zanganeh said in a televised speech on Saturday. "We will not surrender under any circumstances. We have to increase our capacity so that when necessary with full strength we can enter the market and revive our market share," said Zanganeh. The agreement aims to produce 39.5 million barrels of oil from the Yaran oilfield.