2022-03-19 22:11
publication
2022-03-19 22:11
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Iranian oil minister Javad Owji said on Saturday that he would try to raise Iranian oil and condensate exports to 1.4 million barrels a day, Reuters reported. The minister also announced plans to increase production to 5.7 million barrels per day.
During his speech on Iran’s state-owned television, Owji stressed that he would try to raise Iranian oil and condensate exports to 1.4 million barrels a day, as set out in the annual budget. He recalled that the Iranian parliament decided to increase the ceiling for the export of gas from 1.2 million to 1.4 million barrels per day. He declared that he would do everything in his power to reach the level set in the annual budget.
Iran, which is subject to US sanctions on oil exports, does not disclose the real figures about its sale abroad.
As reported by Reuters, Owji also informed that his ministry plans to increase crude oil and condensate production capacity from 3.7-4 million to 5.7 million barrels a day. However, he did not provide a time frame. In 2020, Iran announced an ambitious plan to raise production to over 6.5 million barrels a day by 2040 – unrealistic according to analysts – Reuters stressed.
The United States is in talks with Iran to restore the 2015 JCPOA nuclear deal and thus lift international economic sanctions against that country. Iranian oil could partially replace Russian oil.
According to the International Energy Agency (IEA), Russia is the world’s largest exporter of crude oil and refined products, supplying the markets with 8 million barrels a day. (PAP)
kmz/ mmu/
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