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Iran hits new record in oil exports

Despite the continuation of anti-Iranian sanctions, the country has made a new record by exporting 7mn barrels of oil per day indicating a 500,000 increase in the last month.

Iran hits new record in oil exports
(Friday, May 16, 2014) 20:03

After South Africa who has turned into an oil-purchasing partner of Iran's following recent oil talks, now a number of refineries in India, Pakistan, Sri Lanka, China and some European countries have also become a customer of Iran’s black gold exports.

Simultaneous with the country’s bids for increasing oil sales and exports as well as signing new oil contracts with the world’s major refineries, Iran’s crude oil exports after the Islamic Revolution have hit a new record.

Seyed Pirouz Mousavi CEO of Iranian Oil Terminals Company noted that Iran had managed for the very first time in the history of its oil sales to make a new record by exporting 7 million barrels of oil per day; “over the past few weeks, eight ports at Kharg oil terminal were simultaneously engaged and after ten years the export of seven million barrels of oil in a day was made possible,” he said.

The increase in Iran’s oil exports to Japan and India has stepped up the level of the country’s exports in April, although China’s oil imports from Iran have slightly dropped.

Meanwhile, Iran’s Oil Minister Bijan Zangeneh has announced the double increase in the country’s oil exports over several months and in case of a completely termination of sanctions, noting that necessary measures have been taken for an urgent increase in production and exports.

According to reports, Iran could increase output by 800,000 barrels a day to its full capacity of 3.6 million within three months of sanctions ending.

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