BAKU, Azerbaijan, Nov. 11
By Elnur Baghishov – Trend:
Iran has sold an average of about 600,000-700,000 barrels of crude oil daily since the beginning of the current Iranian year (March 20, 2020), the Deputy Chairman of Plan and Budget Organization of Iran Hamid Purmohammadi told Fars news agency, Trend reports.
The deputy chairman noted that as oil revenues are calculated based on Iran's official exchange rate ($1 equals 42,000 rials), it has little effect on the budget.
Purmohammadi added that there are certain proposals to make several changes in the Iranian state budget, and these proposals will be implemented if approved by parliament.
Iran has 125 oil fields and 59 gas fields. The country's total hydrocarbon reserves are estimated at 836 billion barrels. With available technology and equipment, Iran can extract 239 billion barrels. Thus, 29 percent of the country's hydrocarbon reserves are recoverable, while 71 percent remain underground.
The US has imposed new sanctions on Iran since November 2018, and sanctions have been steadily increasing. Therefore, Iran prefers don’t disclose any information on oil production and sales.