Baku, Azerbaijan, Oct. 30
By Khalid Kazimov – Trend:
Iran plans to increase its exports of oil and condensate to three million barrels per day by March 20, a senior official said.
Ali Kardor, an Iranian deputy oil minister, has said that the country’s daily oil exports will hit 2.5 million barrels by the end of the current Iranian calendar year (starting March 20), IRNA news agency reported.
Considering the fact that the country’s condensate export has already reached 500,000 barrels per day (bpd), Iran’s overall oil exports is projected to hit tree million barrels per day over the coming months, he added.
Iran’s daily oil and condensate exports stood at over 2.5 million barrels during the current fiscal year (started March 20).
The Islamic Republic exported 2 million barrels of crude oil, as well as 500,000 barrels of gas condensate per day during the period.
Under international sanctions, which extended till early 2016, Iran’s oil export dropped from 2.3 to 1 million barrels a day.
The strong demand in Iran’s crude in Asia and Europe has enabled it to raise its oil output to just over 3.8 million bpd, still below the 4 million bpd level termed by Tehran as a precondition for discussing output limits with other oil producers.