Baku, Azerbaijan, Nov. 15
By Fatih Karimov – Trend:
The Iranian government’s oil revenues have witnessed an increase by 82.2 percent during the first six months of the current fiscal year (started March 20, 2017), the country’s Central Bank said in a statement.
Iranian administration earned 446.6 trillion rials (Each USD makes 35,000 rials) of revenues via sell of oil (including condensate) and oil products during the 6-month period, according to the CBI.
The figure indicates that the predicted revenues in budget for the 6-month period are materialized by 76.94 percent.
Incomes through selling crude oil was 295.1 trillion rials in the period, 67.4 percent more year on year (the predicted revenues based on budget was 510.6 trillion rials).
The Iranian administration also earned 77.8 trillion rials of incomes through export of oil products and gas condensate. The figure is 48.8 percent more compared to the 6-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.