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Iran’s oil export hits 2.7 mbpd

Business Materials 17 August 2016 15:05 (UTC +04:00)
Iran’s oil export reached 2.74 million barrels per day (mbpd) in July, Mohsen Ghamsari, director of the International Affairs Department at National Iranian Oil Company (NIOC), said.
Iran’s oil export hits 2.7 mbpd

Baku, Azerbaijan, Aug. 17

By Fatih Karimov – Trend:

Iran’s oil export reached 2.74 million barrels per day (mbpd) in July, Mohsen Ghamsari, director of the International Affairs Department at National Iranian Oil Company (NIOC), said.

The Islamic Republic exported 2.1 million barrels of crude oil, as well as 600,000 barrels of gas condensate per day in July, Ghamsari said, SHANA news agency reported Aug. 17.

He further said Iran’s crude oil export enjoys a good level currently, but it is still below the pre-sanctions level, which was 2.35 mbpd.

Ghamsari said that about 25 percent of Iran’s crude oil export goes to Europe, while Asian markets share 75 percent of Iran’s crude oil exports.

He also said Iran exports gas condensate to Asian customers only.

Tehran eyes to export 63 percent of its crude oil to Asian markets and the remaining to European and other consumers, Ghamsari added.

He also said talks are underway with certain Asian and European countries for the sale of oil, adding the details will be shared with public once the talks are concluded.

Under international sanctions, which extended into early 2016, Iran’s oil export dropped from 2.3 to 1 million barrels a day.

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