20 August 2024 - 20:23
  • News ID: 645655
Oil Production Increasing by 0.4 mbd, Paknejad

SHANA (Tehran) - Proposed petroleum minister Mohsen Paknejad has said that Iran’s oil production is planned to increase by 400 thousand barrels a day up to the end of the next Iranian calendar year on 19 March 2026.

Speaking at today’s session of Parliament to defend his proposed plan for running the Petroleum Ministry, Paknejad thanked the specialized commissions of the parliament, especially the Commission of Energy and other MPs who delivered speeches in favor or against his proposed programs.

As part of his reaction to the parliamentary debates on a vote of confidence, he said: the progress of the holy system of the Islamic Republic of Iran would be possible with this kind of companionship and consensus and the use of all elements of the Islamic establishment.

Elsewhere in his remarks, he said: “The Petroleum Ministry with its various technical, commercial, economic, international, and financial security aspects acts as the driving force of the economy and is responsible for collecting part of the country’s revenues by exporting crude oil, natural gas, gas condensate, and oil and petrochemical products”.

He added: “The strategic importance of the oil industry has caused this industry to be the target of enemy attacks and under the most severe sanctions.”

Paknejad told the parliament: "However, despite the sanctions, the oil industry is a thriving and stable industry today, and due to the specialization and complexities of this industry, I consider the role of the jihadist colleagues of the oil industry vital in ensuring energy and financial security.”

News ID 645655

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