Iran’s Light oil export via Kharg terminal increases by 87%‎

Business Materials 13 June 2017 20:17 (UTC +04:00)

Baku, Azerbaijan, June 13

By Fatih Karimov – Trend:

Iran exported 780 million barrels of oil from Kharg terminal in Persian Gulf during the last fiscal year (ended March 20, 2017), Pirouz Mousavi, the managing director of Iran Oil Terminals Company (IOTC), said.

The exports include 240 million barrels of Light crude, Mousavi said, the official website of the IOTC reported June 13.

Iran’s Light crude exports from Kharg indicate a rise by 87 percent, he added.

The improvement of crude marketing and sales in the post-sanctions period is the main reason behind the increase, Mousavi said.

He said that over 800 ships docked in the terminal to load crude last fiscal year, compared to 540 ships in preceding year.

Kharg is the largest oil export terminal in Iran, sharing about 95 percent of the country’s total oil export terminals’ capacity.

Iran’s oil output decreased from about 3.7 mb/d in 2011 to 2.8 mb/d in 2015 due to sanctions. Its oil and gas condensate export volume was about 1.2 mb/d. Sanctions on Iran were removed in January 2016.

The country’s Oil Minister Bijan Namdar Zanganeh announced on Apr. 12 that Iran exported 2.6 mb/d of oil and gas condensate during the last fiscal year and the figure is expected to fall to 2.4 mb/d.