Baku, Azerbaijan, July 4
By Fatih Karimov– Trend:
Iran’s crude oil output has surpassed 3.9 million barrels per day in June for the first time after removal of international sanctions against the Islamic Republic in 2016, Mohammad Bagher Nobakht, the Iranian government spokesman said.
He added that the country’s gas condensate (an ultra-light crude) output also reached 692,000 barrels per day, IRNA news agency reported July 4.
The official further put the country’s gas output at 852 million cubic meters per day.
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 export volume was about 1.2 mb/d. Sanctions on Iran were removed in January 2016.
Iran’s total crude exports for July is estimated to be 1.86 million bpd, up 2 percent on a year ago, with 1.28 million bpd destined for Asia and 580,000 bpd to Europe. That compared with 1.30 million bpd shipped to Asia and 700,000 bpd to Europe in July 2017.
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