Iran plans to export 1.1 mbpd of oil

Oil&Gas Materials 2 December 2013 19:29 (UTC +04:00)

Baku, Azerbaijan, Dec.2

By Umid Niayesh - Trend:

Iran's next year's budget would be set based on revenues from 1.1 mbpd crude oil export ($100 per barrel), member of Iranian parliament's Planning and Budget Commission, Esmael Jalili said, SHANA news agency reported on Dec.2.

The next Iranian calendar year begins on March 21, 2014. Jalili also went on to note that, Iran also plans to export 300,000 barrels of condensates per day in next Iranian calendar year citing on a report submitted by Iranian administration's spokesman, Mohammad Baqer Nobakht to the MPs.

Jalili also forecasted that dollar rate would be set at 25,000 rials per each USD in the new year's budget bill. On Dec. 1, IRNA quoted Iranian MP Jafar Qaderi as saying that U.S. dollar exchange rate has been set to 26,000 rial in next year's budget bill, and general budget has been set to 1900 trillion rials (about $76.3 billion based on the U.S. official exchange rate of 24,900 rials).

The government revenues forecasted to reach 800 trillion rials (about $32.1 billion), he said, adding that customs and tax income are projected to hit 640 trillion rials (about $25.7 billion).

On Nov. 30, the Tasnim News Agency quoted Nobakht as saying that the Iranian administration will submit the budget bill for the next Iranian calendar year to the parliament in the next two days.

The U.S. dollar exchange rate will be fixed in the budget bill. Moreover, the budget bill has envisaged that the second phase of the subsidy reform plan will be implemented next year, he added.

On Oct. 16, the Iranian parliament (Majlis) approved general outlines of the current year's budget bill amendment, IRNA reported.

The Majlis approved the current year's 7.270 quadrillion rails (about $295 billion based on the official USD rate, a dollar equals 24,900 rials) budget bill.