Date: 04 April 2023 ، the watch 02:39
News ID: 11107

Iran’s monthly oil production rises 20,000 bpd: IEA

Iran’s oil production increased by 20,000 barrels per day (bpd) in February from January, the International Energy Agency (IEA) announced in its latest monthly report.

According to the IEA’s released data, Iran produced 2.65 million barrels per day (mbpd) of oil in February, while the figure was 2.63 mbpd in January.

Two weeks ago, Iranian Oil Minister Javad Oji said that a new record high will be reached in the country’s oil export in the current Iranian calendar year 1402 (began on March 21).

The country’s oil export in 1401 was 83 million barrels more than that of 1400, and 190 million barrels more than the export in 1399, the minister announced.

Underlining that now oil export has reached the highest figure in the last two years, the official said, “Considering that the Oil Ministry is one of the main providers of the country's foreign currency; in the 13th government, despite the tightening of cruel sanctions, fortunately, thanks to the grace of God and the efforts of our colleagues in the country's oil and gas industries, there are good records in the field of exporting crude oil, gas condensate, and petroleum and petrochemical products.”

Despite the negative impacts of the U.S. sanctions, Iran has been ramping up its oil production and exports over the past few months.

Back in February, Oji had said that the country’s income from the sales of oil, natural gas, gas condensate, and petroleum products in the first 10 months of the past Iranian year (March 21, 2022-January 20, 2023) increased by 40 percent compared to the same period in the previous year.

Addressing an open session of the parliament on February 1, the minister said that 70 million barrels of gas condensate were exported in the mentioned time span.

In his remarks in November 2022, Iranian President Ebrahim Raisi highlighted the failure of the enemy’s policy of maximum pressure, saying the country’s oil export has reached the pre-sanction levels.

Back in January, the U.S. Energy Information Administration (EIA) in a report put Iran’s average oil production in 2022 at 2.54 million bpd, 140,000 bpd more than the previous year.

Iran's oil production in 2021 was about 2.4 million bpd.

Source: Tehran Times