26 June 2024 - 15:53
  • News ID: 643479
Oil Production Rose by 60 Percent, Owji

SHANA (Tehran) - Iranian Minister of Petroleum, Javad Owji, says that the country’s oil production has risen by 60 percent over the three past years of Ibrahim Raisi’s administration in office.

Speaking with reporters on the sidelines of a weekly cabinet meeting today, he said that over the past few days, some persons have announced unreal figures concerning oil production and exports during the incumbent administration.

He continued: today I provided a report to the cabinet about the oil production and exports even though these reports are sent to the high-ranking officials of the country every month including to the Supreme Leader of the Islamic Revolution, heads of the three branches of the government and some chairmen of the specialized committees of the Parliament.

He said that during the Iranian year of 1398, which ended on March 20, 2019, oil production stood at 2.290 million barrels per day, but fell to 2.106 million barrels the next year and stood at 2.107 million barrels in Khordad 1400 equal to June 2021.

He continued: When the 13th administration took office in August 2021, oil production rose to 2.4 million barrels per day for the remaining months of that year and rose to 2.6 million barrels per day in 1401, which ended on 20 March 2022.

According to him, the trend of rising oil production continued so that it reached 3.3 million barrels per day in the last year, and continued the rising trend this year to 3.570 million barrels per day so far.

Thus, as the figures show, oil production has risen by 60 percent over the past three years, Owji said.

"Concerning oil exports, I should mention that total oil exports have reached 565 million barrels now from 182 million barrels four years ago amid rising oil and gas condensate revenues from 10 and 9 billion dollars during the Iranian years of 1389 and 1390, which ended on 20 March 2011, to 36 billion dollars now.", he said.  

According to the minister of petroleum, liquified petroleum gas (LPG) exports witnessed a great achievement because the volume of their exports has risen from 3.2 million tons in 2020 to 6.5 million tons now which contributed a lot to the oil and gas sector share in economic growth.  

While oil and gas sector growth was 14 and 37 percent negative respectively in 2018 and 2019, it jumped considerably and became positive last year, reaching 20 percent, the minister of Petroleum concluded. 

News ID 643479


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