Iran plans to establish special organization for selling crude oil, petrochemicals, gas condensates

Business Materials 21 August 2013 16:02 (UTC +04:00)

Azerbaijan, Baku, Aug.21/ Trend F.Karimov/

Iranian Oil Minister Bijan Namdar Zanganeh has proposed to establish an organization specializing in selling crude oil, petrochemicals, and gas condensates, ISNA quoted member of oil, gas, and petrochemical exporters union Hamid Hosseini as saying.

"Considering the current situation in the country, new approaches should be adopted to sell crude oil," he said. "The organization's task will be different from that of international affairs department of the National Iranian Oil Company".

OPEC's report which was published on August 1 compiled based on data provided by Iran (based on direct communication), said that Iran exported some 2.1 million barrels of crude oil and gas condensates in 2012.

In OPEC monthly, which was published on August 10, Iran also put its July crude oil output at 3.721 million barrels.

Meanwhile, OPEC has estimated - based on secondary sources - that the figure was 2.684 million barrels.

Iran's total crude oil refining capacity is about 1.7 million barrels per day. It means that the domestic consumption volume is about 2 million barrels less than the total production.