Iran to have $50bn oil revenues next year: Min

Oil and condensates exports stood at 1.2mn barrels a day in the five months of the year 2013 while the figure reached 2.8 barrels a day in the past four months, up by 1.6mn barrels

Zangeneh further noted that South Pars phases of 17 to 21 will be officially inaugurated in March.
Zangeneh further noted that South Pars phases of 17 to 21 will be officially inaugurated in March.

Petroleum Minister Bajan Zangeneh said that Iran oil exports has reached the pre-sanctions level and its oil income will reach $45bn to $50bn next Iranian year (to start March 21), if a barrel of crude sells for $55, according to IRNA.

Oil and condensates exports stood at 1.2mn barrels a day in the five months of the year 2013 while the figure reached 2.8 barrels a day in the past four months, up by 1.6mn barrels, Zangeneh said.

Such an increase in Iran’s oil exports was very wonderful for the Western observers, he said, according to IRNA.

This year’s (to end on March 20) oil sales brought some 40bn dollars, some of which will be collected next year (to start Mach 21), he said.

Oil customers have now increased and there are no limits in the rate of exports, which has made the country powerful, he said.

Zangeneh further noted that South Pars phases of 17 to 21 will be officially inaugurated in March.

When they come on stream, they will produce 150mn cubic meters of sweet gas a day, he said.

Petroleum minister said that the ministry plans to build ten major oil equipment inside the country.

Some of the agreements to that effect have been reached earlier and some of them are in the final stage, he said, noting that Iran will be transformed into one of the good builders of the oil equipment in the region which will be qualified for exports.

Newsletter

Most Popular

Digital Edition

Oil & Gas Middle East - September 2020

Subscribe Now