Comptroller Summarizes NIOC Numbers in Fiscal 2017-18

EghtesadOnline: The National Iranian Oil Company generated $8.6 billion from selling five petroleum products namely gasoline, diesel, mazut, kerosene and liquefied gas in the fiscal 2017-18, Fars news agency said as quoted by the Supreme Audit Court of Iran.

News ID: ۷۴۷۱۷۶

29 April 2019

Giving a breakdown, the report said NIOC sold 29 billion liters of gasoline worth $6.4 billion.

According to the comptroller, about 30 billion liters of diesel was sold in the year adding $2 billion to NIOC's total revenues. It put the volume and value for mazut sales at 5 billion liters and $64 million respectively.

Referring to other goods, including kerosene and liquefied gas, the sales figures amounted to $91 million and $46 million respectively. NIOC sold 3 billion liters of kerosene and 3 billion kilograms of LNG in the period, according to Financial Tribune.

The sale of 2 billion liters of jet fuel generated $299 million in revenues for the state-owned company.

Crude Oil Export

The report added that in 2017 the state company exported 772 million barrels of crude or on average of 2.1 million bpd. In fiscal 2017-18 a barrel of crude cost $54 and the NIOC earned $41 billion in oil revenues.

It supplied 619 million barrels of oil, worth $33 billion, to domestic refiners in the period that were converted into assorted value-added goods.

Iran's oil production was 3.8 mbpd in 2017.

Condensate Output

The report added that NIOC exported 431,000 barrels of gas condensate every day in the review period and earned $8.8 billion. In the March 2017-18 fiscal a barrel of condensate was sold at $56.

Furthermore, NIOC supplied local refining complexes with 46 million barrels of condensate worth $2.5 billion.

Petrochemical plants received 45 million barrels of condensates, worth $2.4 billion in 2017. NIOC produced 248 million barrels of condensate in the year.

The report said NIOC subsidiaries, namely Pars Oil and Gas Company, as contractor of South Pars Gas Field, and Iranian Central Oil Fields Company produced 235 million and 13 million barrels of condensate respectively.