Baku, Azerbaijan, May 5
By Khalid Kazimov - Trend:
Iran is planning to increase its crude export by 400,000 barrels per day to reach the export level of 2.5 million barrels per day in summer, a senior oil official said.
"Iran's oil exports will reach 2.5 million barrels per day by summer," Mehr news agency quoted Managing Director of the National Iranian Oil Company Rokneddin Javadi as saying.
Saying that the country currently produces 3.8 million barrels of oil per day, he added Iran's crude export level has stood at 2.1 million barrels per day.
Rokneddin Javadi touched upon OPEC's quota system and called for the revival of the system.
Iran will not stop exporting oil unless OPEC revives its quota system, he added.
Saying that OPEC quota system has been removed since four years ago, he added that if OPEC reinstalls its quota system, Iran will be ready to negotiate its oil export within the quota system.
OPEC approved a plan to scrap allocating fixed production quotas to member countries in its Dec. 2011 meeting and introduced output ceiling of 30 million barrels per day (bpd) which does not specify quotas.
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