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Iran increases oil, condensate export

Business Materials 7 May 2016 14:05 (UTC +04:00)

Baku, Azerbaijan, May 7



By Khalid Kazimov - Trend:



Iran's export of gas condensate and oil has reached 2.4 million barrels per day, says the country's Oil Minister Bijan Namdar Zanganeh.



He noted that the export of oil and condensate by Iran have doubled since January 16 when the international sanctions on Iran were lifted, the IRNA news agency reported.



The Islamic Republic's oil and condensate export stood at 1.35 million barrels per day during the sanctions era, according to the minister.



He also pledged that the country's oil export will soon exceed two million barrels per day.

The minister further called for attracting foreign investments for developing Iran's oil industry.



The International Energy Agency has suggested that Iran's crude oil production increased by 0.3 million barrels per day in the first quarter of 2016 and stood at 3.3 million barrels per day in March.



Iran's Customs Administration said in its latest report that the Islamic Republic exported about 1.34 million tons of gas condensate (380,000 barrels per day) during the first month of the current fiscal year which began on March 20.

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