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File photo of a unit from the South Pars Gas field in Asalouyeh
DUBAI, March 19 (Archyde.com) – Iran’s Oil Minister Javad Owji said on Saturday he would try to lift the Islamic republic’s oil and condensate exports to 1.4 million barrels a day, as set in the budget. state annual.
“The parliamentarians decided to raise the ceiling on oil and condensate exports from 1.2 million barrels (daily) to 1.4 million barrels. The Oil Ministry will do everything in its power to make the set level a reality.” in the budget,” Owji told state television.
Iran, which faces US sanctions on its crude exports, does not disclose exact figures for its oil sales.
Owji said his ministry plans to increase crude and condensate production capacity to 5.7 million bpd from about 3.7-4 million bpd, without giving a timetable.
In late 2020, Iran unveiled an ambitious plan to increase production capacity to more than 6.5 million bpd by 2040. However, analysts believe it is unrealistic.
The FGE consultancy said last year that it saw Iranian output topping 4 million bpd in 2025 and stabilizing at around 5 million bpd before starting to fall in 2037.
(Report from the Dubai newsroom; Edited in Spanish by Javier Leira)