Iran exports $50bn crude oil last year

TEHRAN, Jun. 25 (MNA) – Deputy Ministry of Oil for Engineering, Research and Technology Affairs Habibollah Bitaraf put crude oil value exported from Iran in the past Iranian calendar year in 1396 (ended March 20, 2018) at $50 billion.

Total export currency revenues of the country in the past year hit about $90 to $95 billion, $50 billion and $20 billion of which related to the export of crude oil and petrochemicals respectively.

Speaking in the 1st International Conference on the Integrated Management of Physical Assets of Oil and Gas Industry in Offshore and Onshore Sector, he put the share of oil and other products of oil industry from export portfolio at 70 percent.

The outstanding and significant role of Iranian oil industry in the global level and OPEC (Organization of Oil Exporting Countries) and also Iran’s share of oil and gas reserves indicate significance of management of physical assets of the oil industry, Bitaraf maintained.

Not only integrated management of assets should be taken into consideration in the physical assets, but also, other capitals of the organization such as human capital and data-financial assets should be highlighted, he opined.

At the initiative taken by Iranian Offshore Installation Construction and Engineering Company, the 1st International Conference of Integrated Management of Assets in Iran’s Offshore and Onshore Oil and Gas Industry is underway in Tehran with the cooperation of PARS Oil and Gas Company (POGC), Iranian Offshore Oil company (IOOC), Oil Terminals Company (OTC), National Iranian Drilling Company (NIDC) and Khazar Oil Company.

MA/IRN82952240

News Code 135112

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