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Iran’s crude exports hit record high

Iran’s oil minister has announced that the country’s crude oil exports has reached 2.44 million barrels per day which marks a new record in the post-JCPOA era.

Iran’s crude exports hit record high
(Wednesday, November 2, 2016) 10:56

Bijan Zanganeh stated that the Iranian Oil Ministry has taken several constructive measures over recent years including expansion of technology, knowledge-based activities as well as cooperation with universities in addition to the relative reduction in consumption of gasoline.

“Without putting any major refineries into operation, Iran has now turned from a gas oil importer into an exporter of the oil product,” he underlined.

Zanganeh stated that the country is now exporting a daily average of 20 million liters of gas oil; “Iran is currently considered as an exporter of all petroleum products except for gasoline the issue of which will be resolved by the end of the current Iranian calendar year (began March 20).”

Iran’s entrance to the club of oil product exporters has been made possible through extensive efforts in area of gas supply, said the official maintaining “by the end of the current year, Phase 11 of South Past joint gas field will come on stream.”

Bijan Zanganeh also referred to the uplift in Iran’s oil output after the Joint Comprehensive Plan of Action (JCPOA) was implemented concluding “by the end of October, the volume of Iran’s crude oil exports amounted to 2.44 million barrels per day which marks a record high.”

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