Baku, Azerbaijan, Oct. 14
By Fatih Karimov– Trend:
The latest statistics of Iranian Central Bank (CBI) indicates that the government’s oil revenues has registered an increase by 97 percent.
Iranian administration earned 331.8 trillion rials (Each USD makes 34,179 rials) of revenues via sell of oil (including condensate) and oil products during the first five months of current fiscal year (March 20-Aug. 22), the CBI said Oct. 14.
The figure indicates that the predicted revenues in budget for the 5-month period are materialized by 68.6 percent.
Incomes through selling crude oil was 247.5 trillion rials in the period, 106.9 percent more year on year (the predicted revenues based on budget was 425.5 trillion rials).
The Iranian administration also earned 67.6 trillion rials of incomes through export of oil products and gas condensate. The figure is 68.5 percent more compared to the 5-month period of preceding year.
Iran was exporting 2.5 mb/d of crude oil and gas condensate before the imposed sanctions in 2012, of which 18 percent was supplied to the EU.
After 2012, the EU cut Iran oil purchase and Asian countries had to decrease Iranian oil import gradually, which led to decreasing Iranian oil and gas condensate export to 1.2 mbpd in 2015.
After elimination of sanctions in 2016, based on nuclear agreement, Iran resumed its oil exports.
Iran’s crude oil and condensate exports amounted for 2.6 million barrels per day (mbpd) in September 2017.