Iran to Raise Oil Production Next Month: NIOC Chief
- February, 05, 2017 - 17:00
- Economy news
TEHRAN (Tasnim) – A senior Iranian oil official said the country plans to increase its oil production next month.
Ali Kardor, the managing director of the National Iranian Oil Company (NIOC), said the country’s oil production would surpass 4 million barrels a day by the end of March, Shana reported on Sunday.
Iran’s production stood at about 3.7 million barrels a day in the last quarter of 2016, according to independent sources used by OPEC.
Elsewhere in his remarks, he said that the deadline for a major international tender for Iran’s oil and gas fields’ projects has been delayed by a month to February 15.
Iran has the world’s second largest proven gas reserves after Russia, with a potential to become a top producer. It plans to build a capacity to export 40 million metric tons of LNG a year.