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Iran sets to boost oil production next year

Oil&Gas Materials 14 December 2020 10:47 (UTC +04:00)

TEHRAN, Iran, Dec. 14

Trend:

Iran Oil Minister Bijan Zanganeh has announced that the government aims to pump 4.5 million barrels a day of oil and gas condensate, which is a liquid form of natural gas, during the next Iranian calendar year beginning on March 21, Trend reports via IRNA.

Iranian Member of Parliament Jafar Qaderi explained the details of the meeting of the Planning and Budget Commission of the Parliament held on Dec. 12.

“The Minister of Oil presented a report to the MPs on the sales and exports of oil and petroleum products,” he said.

“Zanganeh also said Iran will increase oil exports to 2.3 million barrels a day, provided that the U.S. eases sanctions on the energy sector," Qaderi said.

“The projected exports are expected to cover 25 percent of Iran’s budget for the next Iranian year (ending March 21, 2022),” Qaderi said.

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