Iran among regional countries with oil production decrease

Business Materials 18 June 2012 12:29 (UTC +04:00)

Azerbaijan, Baku, June 18 /Trend S.Isayev/

Iran's oil production has decreased by 0,6 percent in 2011 since 2010 according to the latest BP report, published on Monday.

In 2010 Iran's oil production was reported by BP to be 4338 thousand barrels/day, and in 2011 this figure was 4321 thousand barrels/day.

The statistics include crude oil, shale oil, oil sands, NGLs (the liquid content of natural gas where recovered separately).

Statistics exclude liquid fuels from other sources, such as coal derivatives and biomass.

Iran thus far is responsible for 5,2 percent of the world's share total of oil production.

The Islamic Republic has reportedly increased its oil production by 46,000 barrels per day in 2010, which was a 0.9 percent increase compared to 2009.

Iran, along with Syria and Yemen are the only three countries of the Middle East region that saw their oil production decrease by the end of 2011.

Other regional countries such as Saudi Arabia (oil production increased by 12,7 percent), Kuwait (increased by 14,1 percent), Iraq (12,8 percent increased), UAE (14,2 percent increased) all did better with their oil production in 2011 compared to 2010.