Iran’s crude exports to hit 2.2mn bpd

TEHRAN, May 23 (MNA) – Deputy oil minister has Announced that the country’s oil export capacity will reach 2.2 million barrels per day (bpd) in coming months.

Touching upon the latest status of oil exports, Roknodin Javadi said “at the present time, the volume of Iran’s crude exports excluding gas condensates has reached two million barrels per day.”

Managing director of National Iranian Oil Company NIOC said his company’s commitment to deploy two million barrels of crude oil to international markets in the post sanction era has been fulfilled.

Deputy oil minister, while emphasizing that the rise in oil production will not come to a halt despite the increase in exports, noted “on the basis of ongoing short-term plans, Iran’s oil exports will climb to 2.2 million barrels per day by early August.”

Also in response to a question about Iran joining the oil freeze deal, Javadi emphasized “Iran has no plans to freeze the level of its oil production and exports as the country tries to raise its crude exports to pre-sanctions levels.”

“Under the present circumstances, the government and the Oil Ministry have not issued any policy or plan to the National Iranian Oil Company (NIOC) towards halting the increase in the production and exports of oil,” he continued.

Javadi had previously underlined that “since 4 years ago, OPEC’s quota system has been terminated and all countries produce and export oil on the basis of their capacity.”

He stressed that Iran will not stop oil exports and production as long as the quota system is not revived by OPEC (Organization of the Petroleum Exporting Countries).

A meeting of the OPEC exporters' group, including Iran, is scheduled for June 2.

 

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News Code 116754

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