Iran Producing Nearly 4.5m bpd of Oil: Report
TEHRAN (Tasnim) – Iran is producing around 4.5 million barrels per day (bpd) of crude less than a year after the removal of anti-Tehran sanctions, a report said.
Iranian refineries are pumping out around 4.5 million barrels per day (bpd) of oil and ultra light oil condensate, according to the preliminary tanker schedule, Reuters reported.
Iran exported 2.56 million bpd of crude oil and condensate in October, which showed a decline from 2.60 million bpd in September.
The September exports were the most since mid-2011, and compare with just under 2.5 million bpd in August.
Iran's crude and condensate exports to Asia in October are likely to total 1.83 million bpd, down from 1.96 million bpd in September, but still more than double from a year earlier.
Iran sits on the world’s fourth-largest oil and second-largest gas reserves, and is among the world’s top 10 oil and top five natural gas producers.
The sanctions were lifted after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached an agreement on Iran’s peaceful nuclear program and started implementing it on January 16.
