News ID: 113757
Published: 0622 GMT March 13, 2015

Oil Ministry to export 20m tons of oil derivatives next year

Oil Ministry to export 20m tons of oil derivatives next year

Iranian Oil Minister Bijan Namdar Zanganeh announced that his ministry is planning to considerably increase the volume of the country’s oil derivatives exports in the next Iranian year (to start March 21).

“We are planning to export 20 million tons of oil derivatives in the new Iranian year,” Zanganeh told reporters on Friday, IRNA reported.

He underlined the importance of a rise in export of oil derivatives for Iran, saying, “Oil projects are financed this way.”

“The export of oil derivatives plays an important role in the implementation of the oil industry projects,” Zanganeh added.

In February, a senior energy official announced that Iran's oil revenues considerably increased in the first ten months of the current Iranian year (March 21, 2014-January 22, 2015) as compared with previous year's corresponding period.

“Iran earned over $2.3 billion from sales of oil products in the first ten months as the country is applying innovative methods to sidestep US-led sanctions," Head of Commercial Department of National Iranian Oil Products Distribution Company (NIOPDC) Mohammad Reza Mazloumi said.

In December, Iranian Parliament Speaker Ali Larijani said exports of crude is just one of Iran's sources of revenue and the country can live up without oil sales and through exports of its rich mineral resources, modern industries, and talented people.

"We have different methods and scenarios to run the country under different circumstances and we will not forget which countries are conspiring to reduce oil prices," Larijani said during a visit to Syria at the time.

   
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