Iran’s predicted oil export revenues realised to44.6 per cent

Oil&Gas Materials 15 November 2013 16:19 (UTC +04:00)

Baku, Azerbaijan, Nov. 15

By Umid Niayesh - Trend: Some 44.6 percent of Iran's forecasted oil export revenue of the current year's budget have been materialised during the first seven months of the current solar year (started on March 21), Spokesperson for the Iranian Parliament's Planning and Budget Commission, Gholamreza Kateb said, ISNA news agency reported on Nov. 15.

He also went on to note that the predicted tax revenue of Iran's current year's budget has been realised by 70 per cent during the same period.

Kateb based his comments on a report by Iranian Minister of the Economic Affairs and Finance, Ali Tayebnia presented to parliament.

Iran's official statistics indicate significant impact on the petroleum sector, alongside the crude oil exports.

Iran's oil exports were around 2.2 million barrels per day in 2011, but the figure had dropped resulting in being one million barrels as of the current year. The same falling trend applies to the country's gas condensates and oil products exports.

Iran, the fifth-largest crude exporter as recently as 2011, sold the least amount in 21 months in October as China, India, South Korea and Japan curbed their purchases amid Western sanctions targeting the nation's nuclear programme, Bloomberg reported.

According to the International Energy Agency (IEA), Iran's daily sales to China slid to 300,000 barrels from 475,000 in September. Supplies to India slumped to 165,000 barrels from 300,000 barrels; deliveries to Japan declined to less than 100,000 barrels from 250,000 barrels and those to South Korea fell to 65,000 barrels from 135,000.