Iran commends Oil Ministry measures to raise exports
Iranian President Ebrahim Raeisi has hailed Oil Minister Javad Owji and his staff for efforts that led to a major increase in Iran's oil exports in the year to late March.
In a letter issued late on Wednesday, Raeisi conveyed a statement signed by 220 lawmakers in the Iranian parliament which appreciated Oil Ministry’s success in meeting targets set for sales of oil and condensates in Iran’s last calendar year’s budget law.
The lawmakers also hailed Owji and the Oil Ministry staff for successful implementation of key petroleum projects in Iran in March, including the launch of a second production plant in Abadan Refinery, one the world’s largest crude oil refineries, as well as for rolling out a major refinery for processing natural gas from Iran’s South Pars Gas field in the Persian Gulf.
The legislators also hailed the fact that Iran had avoided any disruptions to its fuel supply and distribution systems last winter despite rising demand in the country.
Reports by international tanker tracking services published in recent months indicate that Iran had been pumping record amounts of crude oil to markets in Asia and elsewhere despite US sanctions that ban any trade of oil with Iran.
Recent data by Belgian data firm Kpler show Iran’s oil exports to China tripled in three years to 2023 to reach around 1 million barrels per day.
That comes as total Iranian oil export is believed to be around 1.6 million bpd from a production of more than 2.6 million bpd.
Experts say the increased production and exports of crude oil from Iran is a sign that Washington’s sanctions on the country have failed for good, more than five years after they were imposed with the aim of forcing Tehran to change its defense and foreign policies.
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