Iran’s oil output capacity returns to pre-sanctions levels

TEHRAN, Mar. 25 (MNA) – Promise of oil production capacity to pre-sanctions level has been fulfilled in 13th government, reaching more than 3.8 million barrels per day (bpd), Public Relations Department of Iranian Oil Ministry says.

Return of Iran’s oil production capacity to before period of unilateral US imposition of sanctions on Iran is one of the promises of 13th government under President Raeisi, the report added.

This issue is of paramount importance that can, in addition to meeting needs of domestic refineries, pave suitable ways for Iran to increase its oil export and regain its share in the global oil market.

Prior to sanctions, Iran's oil production capacity was about 3.838 million barrels per day but this huge volume decreased considerably due to unwise planning and reduced investment made in previous administration. 

Earlier, Mohsen Khojastehmehr CEO of National Iranian Oil Company (NIOC) pointed to the planning devised by the company in line with increasing oil production volume and said, “Return of Iran’s crude production capacity to pre-sanctions level up by the end of previous year in 1400 (ended March 20, 2022) has been one of the serious programs of the National Iranian Oil Company (NIOC).”

With due observance to the said issue, giant steps have been taken in 13th government in line with increasing oil production output and export of this product to international arenas, he emphasized.

MA/FNA14010104000641

News Code 185102

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