Iran aims at boosting oil exports to 2.35mbpd

EghtesadOnline: International Affairs Director of National Iranian Oil Company (NIOC) said Iran is presently exporting 2.2mbpd of crude oil but the figure could be well increased to 2,350,000 bpd.

News ID: ۷۳۷۳۲۵

03 October 2016

Talking to reporters on Sunday, Mohsen Ghamsari also commented on Iran's ability to increase production and export rates of its crude oil now that it has been excluded from oil freeze plan.

Noting that Iranian refineries use 1.8 mbpd of crude oil, he said surplus production would be allocated to exports.

On the crude oil exports to Europe, he said that 600 to 650 barrels of crude oil is exported to Europe per day.

According to IRNA, he reiterated that the average amount of crude oil exports was 2mbpd during the first half of current Iranian calendar year (started March 20, 2016) and the amount of gas condensates exports was 500,000 bpd during the same period.

The 15th International Energy Forum (IEF) kicked off in Algeria on September 27 and the members agreed on oil freeze (Stabilization and reduction of production) and Iran was excluded from this plan.

Accordingly, Iran would be able to increase its crude oil production to 4.2mbpd which is now 2,650,000bpd.