Iran criticizes Iraq for increasing crude oil exports

Iran criticizes Iraq for increasing crude oil exports

Azerbaijan, Baku, Nov.2/ Trend F.Karimov/

Iranian Oil Minister Bijan Namdar Zanganeh has criticized Iraq for increasing it crude oil exports, which has compensated for the shortage of Iranian oil in the world market, the Mehr News Agency reported.

Iraq replaced the Iranian oil with its own oil while Iran is under international sanctions, Zanganeh said, adding that such measures are not welcoming.

Iraq, OPEC's second biggest oil producer, expects a robust return to growth next year as foreign companies at work in its southern oilfields push output towards the highest level ever, a senior Iraqi oil official said on Wednesday.

Thamir Ghadhban, chairman of the advisory commission to Iraq's Council of Ministers, said flows are set to rise by at least 500,000 barrels per day (bpd) to an average of 3.5 million bpd - as Majnoon - run by Royal Dutch Shell, Garraf - led by Malaysia's Petronas - and Halfaya, operated by PetroChina , ramp up.

Farther north, the Badra oilfield, run by Russia's Gazprom Neft, the oil arm of Gazprom, is also set to come on line.

Production of nearly 3 million bpd earned Baghdad $94 billion in 2012 and netted $61 billion in the first eight months of this year.

Iran's crude oil exports have decreased from 2.2 million barrels per day (mbpd) in 2011 to less than 1 mbpd currently. According to the statistics of the Iran's Customs Administration, the country's condensates exports have plunged significantly as well.

Zanganeh said on October 27 that the country's crude oil incomes would reach $54.5 billion annually if the US-led sanctions over Iran's oil export are eliminated. While the oil price stands at about $107 per barrel, the targeted oil export income figure equals to the value of selling 1.4 mbpd.

Later in September, member of Iranian Parliament Planning and Budget Commission Hossein Ali Haji Deligani said that Iran's oil and condensate revenues were around $23 billions during the first six months of the current solar year (started on March 21). He went on to note that, the country's crude oil and condensates exports currently stand at 1.209 mbpd, citing a report submitted by Zanganeh to the Commission.

Azerbaijan felt Turkey's support not only during Karabakh war but throughout history - Minister
Azerbaijan felt Turkey's support not only during Karabakh war but throughout history - Minister
Int’l Model Non-Aligned Movement Simulation Exercise underway - Azerbaijan Foreign Ministry
Int’l Model Non-Aligned Movement Simulation Exercise underway - Azerbaijan Foreign Ministry
Azerbaijan shows footage from Ucbulag village of Fuzuli district (PHOTO/VIDEO)
Azerbaijan shows footage from Ucbulag village of Fuzuli district (PHOTO/VIDEO)
Loading Bars
Latest
Georgian President appreciates EU support
Macron to hold phone talk with Iranian counterpart over JCPOA
OECD recommends Georgia to support land registration reform for increasing FDI-SME linkages
Turkmenistan reveals schedule of intercity buses
Azerbaijan's State Tax Service registers Fuzuli Airport LLC
Azerbaijan felt Turkey's support not only during Karabakh war but throughout history - Minister
Int’l Model Non-Aligned Movement Simulation Exercise underway - Azerbaijan Foreign Ministry
Azerbaijan, Germany interested in increasing mutual trade turnover - Deputy minister
Iran's Energy Exchange announces products to be on sale on March 3
Azerbaijani State Agency of Automobile Roads talks about repair and construction on roads
Azerbaijani Finance Ministry places medium-term bonds at auction
Azerbaijan shows footage from Ucbulag village of Fuzuli district (PHOTO/VIDEO)
Georgia to receive first doses of COVID-19 vaccine via Covax platform in February
Irrigation systems to be put into operation in Iran’s agricultural sector
Azerbaijani Defense Ministry shares updated list of martyred servicemen in Second Karabakh War
Larization of loans increase in Georgia
Georgian AgroZone products to be exported abroad from Kutaisi Airport
Turkish specialists together with Azerbaijan’s AzTV to shoot film in Nagorno-Karabakh region
Ro-Pax ferry vessel commissioned by Azerbaijan's president - video report
Azerbaijani winemakers’ production down in 2020
Azerbaijan, Tajikistan discuss development of tourism co-op
Georgia’s banking sector begins year with profit
France uses only quarter of Astrazeneca vaccine doses
Uzbek-Korean JV to buy spare parts for electric actuator via tender
Kazakhstan identifies priority tasks to develop agriculture by 2025
Georgian Ministry of Finance sees decrease in mobilized income tax
Likelihood of interest rate decrease in Azerbaijan for 2021 seems minimal - Unicapital
Azerbaijan's AzNET segment neutralizes more phishing attacks in Jan.2021
Azerbaijan's new borrowings not to raise debt burden - Gazprombank
Azerbaijan studying Turkey's experience to strengthen institution of primary health care (PHOTO)
Uzbekistan, Azerbaijan talk big potential for co-op in agriculture
Hertz set to ride out of bankruptcy with $4.2 billion from investment firms
Money transfers via int'l payment systems down in Kazakhstan
Azercell obtains yet another award on customer experience management
German companies may take part in restoring Azerbaijan's liberated lands - ambassador
Excavation of well in Iran's Ahvaz oil field launched
Uzbekistan considers resuming air communication with Russia
Bahar Azadi gold coin price again falling in Iran
Kazakhstan, Georgia resume mutual flights as COVID-19 restrictions lifted
Uzbekistan eyes expanding mutually beneficial relations with foreign partners
Azerbaijan and Germany to continue co-op on improving qualifications of managers
Generation data of Iran's Shahid Rajaee TPP announced
Lithuania supports subsidizing renewable energy projects in Georgia
Demand for pick-up trucks in Azerbaijan may increase - expert
Kazakhstan boosts agriculture output, sets up tasks for sector's dev't
Turkey issues Jan. 2021 data on passenger traffic at Istanbul Airport
Azerbaijani company discloses output of primary aluminum
Spain's jobless hit four million for first time in five years as pandemic curbs bite
Volume of exports from Iran's Qom Province increases
S.Korean oil company holding exploration on land plots in Uzbekistan
EU executive says joint vaccine strategy not unravelling
Azerbaijan, Germany discuss expanding cooperation in oil & gas sector
Azerbaijani business environment entering recovery period - Minister of Economy
Iran's awaits action from US over JCPOA
Indonesia says identifies two cases of British COVID-19 variant
Europe – Iran held business forum to expand trade
Uzbek-Russian JV completes geological exploration at Akchalak investment block
Azerbaijani electricity supplier first to use special-purpose UAVs
Iran reaches gas export growth
Turkish president instructs to shoot TV series about Karabakh war victory
Cargo, passenger traffic via Turkish Sabiha Gokcen Airport down from early 2021
Germany to extend coronavirus lockdown until March 28
Iran unveils data of imports, exports through Anzali port
Azerbaijan records notable growth in population's US dollar demand
Iran reveals COVID-19 data for March 2
Azerbaijani Association of Travel Agencies and Association of Travel Bloggers sign agreement of understanding (PHOTO)
Union ministers Amit Shah, S Jaishankar get Covid-19 vaccine after PM Modi
Azerbaijan to hold new auction for public property facilities
Azerbaijan in cooperation with Turkey to make movie about Karabakh War
TV, radio channels to be non-accredited for 2021 Formula 1 Azerbaijan Grand Prix
Iran's Changuleh - 'a very complex oil field', says official
Proven gas reserves not adequate to furnish rising demand
BHOS launches next ‘Business Education for Engineers’ course
Iran to build combined cycle power plan in Mazandaran Province
Azerbaijan confirms 143 more COVID-19 recoveries
Gold, silver prices down in Azerbaijan
Nitin Gadkari: Despite Covid, highway construction at a record of over 32 km a day
IAF To Take Part In Multinational Exercise "Desert Flag" With France, US In UAE
Uzbekistan reports increases in gasoline price
Uzbek ministry to purchase computer equipment via tender
Uzbek commodity exchange reports volume of RON-80 gasoline sold
Russia's Novak preparing for OPEC+ meeting on March 4
UK's European Technology Development Ltd interested in doing business in Turkmenistan
Iran discusses potential of power transmission lines to neighboring countries
Uzbek commodity exchange reports volume of goods sold for Feb. 22-28
Azerbaijan's Tax Service registers local affiliate of UAE's Masdar company
Azerbaijan shares data on mortgage and guaranteed loans issued over February 2021
Azerbaijan reveals amount of foreign currency bought by banks
Georgia shares details of state property privatized for symbolic price
F1 Azerbaijan Grand Prix 2021 to be hosted without spectators
F1 Azerbaijan Grand Prix to be held until 2024
Georgia reports 461 new cases of coronavirus for March 2
Failure to bring more barrels to trigger prices spiking beyond $70/bbl
Turkmenistan's State Enterprise opens tender to buy electrical equipment
European Investment Bank's loan reinforces support for recovery of Georgian MSMEs
Accreditation of journalists for 2021 Formula 1 Azerbaijan Grand Prix starts
SOCAR Turkey to use IBM Hybrid Cloud Solution
Changes to be made to holding of F1 Azerbaijan Grand Prix 2021 - Baku City Circuit
Iran plans to extract large amount of oil from Azar field
Russian financiers to invest in textile production in Kazakhstan
All news