31 May 2007 - 08:04
  • News Code: 105994
Iran’s Oil Output Increases by 0.7m bpd

TEHRAN – Minister of Petroleum Seyed Kazem Vaziri-Hamaneh said here Wednesday that oil production in Iran had increased by over 700 thousand barrels per day (bpd) since 1989.

He made the statement in the mausoleum of late Imam Khomeini in southern Tehran, where he renewed his allegiance with the Founder of the Islamic Republic.

The oil industry had also witnessed scores of successful exploration operations, added the minister.

“In the gas sector, the production has increased fourfold and the petrochemical industry has also made great progress as its annual output has touched 20 million tons,” he boasted.

Vaziri-Hamaneh expressed his satisfaction with the refining and distributions sectors’ performance, however, adding its outcome would emerge when the development plans came on stream and the oil output soared.

Shifting to the gasoline rationing, he reiterated that the law would be enforced as of June 5 while the head of Energy Committee of Majlis (parliament) yesterday said 100 MPs had signed a double-urgency plan in a bid to postpone the rationing by three months.

“Although the cabinet has voiced its readiness to start rationing gasoline as of June 5, the promise will be most likely unfulfilled,” he predicted.

The MP said the plan would be discussed in the Islamic Consultative Assembly next Saturday.


News Code 105994

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