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IOTC: Iran's oil export hits record high

Managing director of National Iranian Oil Company (NIOC) said on Saturday that Iran's oil and gas condensates exports hit a record of 3.047 million bpd in February-March, unprecedented since Islamic Revolution.

IOTC: Iran's oil export hits record high
(Friday, May 12, 2017) 21:32
“Some part of the export, however, was the gas condensates stored on water, which was sold out,” Ali Kardar said on the sidelines of the 22nd International Oil, Gas, Refining and Petrochemicals Exhibition.

According to IRNA, he added that Iran's oil export decreased to 2.5 million bpd in March-April indicating that the average export this year would be at 2.7 million bpd.

He rejected reports on high discounts on Iran’s oil to the dealers, saying that the pricing is based on the market situation, and is not tantamount to discount or selling the oil lower than the market price.

The exhibition slated for May 6-12, was opened in a ceremony on Saturday morning. The ceremony was attended by Iranian Parliament Speaker Ali Larijani, Oil Minister Bijan Zangeneh, some lawmakers, authorities of the oil sector, and representatives of some 4,000 local and foreign companies, from 37 countries, at the International Exhibitions venue in Tehran.

German companies take the most area in exhibition compared to other countries, and the China is on the top, based on the number of participating companies, followed by Italy, the Netherlands, France, and Britain.

Representatives of some accredited international companies' were also supposed to take part in the event.
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