Iran’s Crude Oil Output to Hit 4mln bpd in Coming Months: Official

News ID: 1523840 Service: Economy
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TEHRAN (Tasnim) – CEO of the National Iranian Oil Company (NIOC) Ali Kardor said the country’s oil production would reach 4 million barrels per day (bpd) by the end of the current Iranian year (March 20, 2018).

Speaking to the Tasnim News Agency, Kardor said currently, the total amount of Iran’s crude oil production amounts to more than 3.8 million bpd.

He further said according to the plans, the figure would rise to 4 million bpd by the end of the current Iranian year.

The official also said that currently, Iran’s exports of crude oil and gas condensates amount to more than 2.6 bpd, adding that the exports would increase in parallel with the production rate in the second half of the year.

Earlier this month, Kardor had said that Iran will reach an oil production rate of 4.5 million bpd within five years.

Iranian gas production will reach 1.3 billion cubic meters per day and production of gas condensate will reach 864,000 bpd in the next five years, Kardor said at the time.

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