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Iran’s oil output to reach 5.4 mb/d in 2022- IMF

Business Materials 28 February 2017 13:14 (UTC +04:00)

Baku, Azerbaijan, Feb. 28

By Emil Ilgar – Trend:

Iran’s crude oil and gas condensate output would increase from current 4 million barrels per day (mb/d) to about 5.4 mb/d in next five years, the International Monetary Fund (IMF) estimated in its report.

According to a report, published on IMF’s official website Feb.28, the oil export also would increase from the current 2.4 mb/d to about 2.9 mb/d in a fiscal year to March 2020. The annual growth pace is 0.1 mb/d.

The output growth pace is more than exports growth. It means the country plans to increase domestic consumption in the coming years. Iran’s officials say the country plans in to increase oil refining capacity from the current 1.8 mb/d to 3.1 mb/d in five years.

But IMF’s statistics about oil output and exports indicate that the domestic refining capacity can increase by 0.9 mb/d in the next five years.

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