Iran boosts production of gas condensates, oil products

Business Materials 16 June 2015 15:03 (UTC +04:00)

‬Baku, Azerbaijan, June 1‫6‬‬

By Fatih Karimov - Trend: Iran boosted production of gas condensates and oil products in the past Iranian fiscal year, which ended on March 20, Iran 's Vice President for Planning and Strategic Supervision Mohammad-Baqer Nobakht stated.

Production of gas condensates rose by 466,000 barrels per day, an 11.5 percent rise year on year. Meanwhile, production of liquefied petroleum gas was increased from 10.34 million liters in Iranian year, which ended in March 2014, to 10.92 million liters last year, Iran 's Mehr news agency quoted Nobakht as saying June 16.

Production of gasoline and kerosene rose to 60.43 million liters and 12.82 million liters per day, respectively, he noted.

Meanwhile, production of fuel oil increased to 26.34 million liters from 17.14 million liters per day, he added.

Natural gas exports were increased to 26.6 million cubic meters per day in last fiscal year, 1.2 mcm/d more year on year, he said.

Meanwhile crude oil exports dropped to $120 billion in Iranian years 1390 (March 2011-March 2012) and 1391 (March 2012-March 2013) and plunged to $52 billion in 1392 (March 2013-March 2014), the official said adding it is now forecasted below $24 billion.

Referring to the development of joint oilfields, he said that the development of Yadavaran oilfield rose from 88.8 percent to 95.74 percent, while the development of South Yaran and North Yaran fields rose to 26.1 percent and 39.3 percent last year compared to 10.7 percent and 10.3 percent the year before.

Edited by CN