Copy in clipboard...
Oil minister: Unfinished projects worth over $28b completed
Talking to reporters, Javad Owji added the completion of the projects led to the surge in production in oil, gas, refining, and petrochemical industries and the registration of an economic growth of over 20 percent in the oil and gas sectors, Shana reported.
The Oil Ministry made effective investments during the yearlong period, said the top official, pointing out that new investments in partially finished oil projects have been included in a comprehensive plan with the aim of boosting production this year.
On Tuesday, Iran’s Plan and Budget Organization (PBO) chief said the Oil Ministry has managed to thwart the sanctions aimed at limiting the country’s oil production and sales in the international market.
Speaking in a joint press conference with Seyyed Ehsan Khandouzi, the government’s economic spokesman, Davoud Manzour added oil is no longer stored in tankers and the amount the country produces has been already marketed.
In addition, Iran’s gas exports have considerably increased when compared to the sales before the current administration, said the official, adding the incumbent government has given top priority to oil and gas exports.
The current administration has tried to bring Iran’s oil production and exports closer to pre-sanctions volumes since it took office in August 2021, said Manzour, adding the country is now producing over 3.5 million barrels of crude oil and gas condensates a day while the figure stood at 2.2 million barrels per day (bpd) in the first half of the Iranian calendar year of 1400 (starting March 21, 2021).
Iran’s oil production in the pre-sanctions era amounted to 3.8m bpd, continued the vice president, concluding that the government plans to boost the daily output by 100,000 to 200,000 barrels this year as it is seeking to make the maximum use of the oil and gas sectors’ capacities for domestic development.