Iranian Oil Ministry tasks ex-diplomat to collect international dues

Business Materials 16 January 2013 17:15

Azerbaijan, Baku, Jan. 16 / Trend F.Mehdi/

The Iranian Oil Ministry has tasked Hossein Farahi, a former diplomat, with an international mission to collect dues from other countries, the Mehr News agency quoted Oil Ministry's spokesman Alireza Nikzad a saying.

Farahi had served as the financial manager of the Foreign Affairs Ministry of Iran.

Some countries, including Sudan, Nicaragua, Jordan, and North Korea have outstanding debts to Iran which date back before the victory of the Islamic Revolution.

For example Iran exported $53 million worth of oil to Nicaragua in 1986, which is valued at $164 million considering the delay in payment.

On January 8, Nikzad slammed reports that Iran has experienced a 40-percent drop in oil exports.

He has also denied the 45-percent drop in oil revenues, something that previously spokesman of Iran's parliamentary budget commission Gholam-Reza Kateb said.

Iran's crude oil production has fell insignificantly in December of 2012, according to recently published OPEC's monthly oil market report.

Data based on secondary sources says that Iran produced 2,656 thousand barrels of oil per day in December, which is slightly less than it did in November 2012, with an amount of 2,677 thousand barrels per day.

In last three months (October, November, December) Iran has shown its lowest production.

The EU, which had bought 18 percent of Iran's exported oil in 2011, halted purchasing crude oil from Iran.

China, Japan, South Korea, India and Turkey as Iran's major oil importers have decreased Iranian crude oil from 15 percent to above 40 percent during 2012.

According to IEA report Iran's oil export dropped from 2.2 mbpd in 2011 to around one million barrels in 2012.