Iran eyes 0.2mbd crude oil output capacity rise by March 2023

TEHRAN, Sep. 03 (MNA) – The CEO of the National Iranian Oil Company (NIOC) said an increase of 200,000 barrels per day in Iran's oil production capacity is expected by the end of the current calendar year, which began on March 21.

Iran’s crude oil production capacity will reach 4.38 million barrels per day by the end of this calendar year with an increase of 200,000 barrels per day, Mohsen Khojastehmehr said.

He said crude oil production capacity reached its pre-sanctions level under the Raeisi administration by March 2022, adding that oil production capacity is now 3.838 million barrels per day.

“By the end of this [calendar] year, with the measures taken, Iran's oil production capacity will increase to 4.038 million barrels per day," he added.

Regarding the increase in oil exports under the Raeisi administration, the Deputy Petroleum Minister said, “Considering the increase in oil production capacity, it is possible to increase our exports due to the demand in international markets.”

“This is an optimal capacity so that whenever the international conditions are more open, we will be ready to significantly increase exports and return to the world markets with maximum power," Khojastehmehr underlined.

ZZ/SHANA

News Code 190982

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