News ID: 215527
Published: 0214 GMT May 22, 2018
Oil, gas condensates exports at 2.75 mbd

Government spokesman: Oil exports revenue growth close to 100%

Government spokesman: Oil exports revenue growth close to 100%

Domestic Economic Desk

Revenues from Iran's oil exports during March 21-April 20, 2018 indicated a 99.96-percent increase compared to the figure for the same period of last year, said the Iranian administration's spokesman on Tuesday.

Mohammad Baqer Nobakht noted that in this timespan, Iran sold its crude oil at $63 per barrel, adding, whereas, in the same duration last year, the figure was $51 per barrel, Shana reported.

He said at present, some of Iran's gas condensates are sold at over $70 per barrel, which shows that oil revenues are favorable.

He warned against exaggerating the adverse impacts of the sanctions on Iran's economy, adding the country's income exceeds its expenditures. "Non-oil and oil exports have increased and our economic trade balance is also positive."

Nobakht said since the victory of 1979 Islamic Revolution, the US has constantly imposed various sanctions on Iran, but it failed to achieve any favorable result.

"It is wrong to adopt an approach which has proved futile in the past."



Oil, gas condensates exports


National Iranian Oil Company (NIOC) exported more than 2.75 million barrels of crude oil and gas condensates per day to European and Asian countries during April 21-May 21, 2018.

In this period, crude oil exports stood at more than 2.45 million barrels per day. Exports of gas condensates in the same duration amounted to 300,000 barrels per day.

Some one third (more than 800,000 barrels per day) of Iran's overseas sales of oil were destined for Europe.

China and India are still the first and second largest importers of Iran's oil. Among the European customers of Iranian crude are France's Total, Italy's Eni and Greece's Hellenic Petroleum.

The average price of Iran's light oil during the week to May 11 stood at $73.79 per barrel, indicating an increase of over $3.

The average price of Iran's light oil since mid-March 2018 has been about $66.38 per barrel.


Resource: Shana
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