Iran’s oil revenues registers huge rise: spokesman
Baku, Azerbaijan, May 22
Iranian Government Spokesman and Head of Planing and Budget Organization Mohammad Bagher Nobakht said that Iran’s oil revenues are promising.
Nobkaht said May 22 that the country’s oil revenues registered an increase by 99 percent year-on-year during the first calendar month (March 20-April 20), without unveiling the exact value, Shana news agency reported.
Each barrel of Iran’s oil was sold at $63 in the period, meanwhile it was $51/barrel in the same month of preceding year, Nobakht added.
Currently some Iranian condensate cargos are sold at over $70 per barrel, the official said.
“Our resources are more than consumption, oil and non-oil exports are increasing, and our economic balance is positive,” Nobakht said.
Earlier Iranian president Hassan Rouhani said that the country will not face any problem regarding the foreign currency shortage in coming months.
Iran’s oil and non-oil revenues is expected to reach $100 billion in the current fiscal year, started March 20, meanwhile, the spendings will not exceed $70 billion in the same span of time, according to Rouhani.
According to a report by The Central Bank of Iran (CBI), the Islamic Republic’s incomes through export of oil and oil products (including crude oil, condensates, natural gas, natural gas liquids-NGL, petroleum products) registered a considerable increase during the first 9 months of the last fiscal year, ended March 2018.
Tehran exported $46.370 billion worth of the products in the 9-month period (March 20-Dec. 20, 2017), 16.3 percent more year-on-year.