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Zangeneh: Iran's oil output hits 3.8mbd

IRNA - Islamic Republic News Agency

Tehran, June 14, IRNA -- Iranian Minister of Petroleum Bijan Zangeneh referred to two-fold increase in Iran's oil exports saying that oil production hit 3.8 million barrels per day.

Addressing Majlis (parliament) open session Tuesday, Zangeneh said that oil exports was about 970,000 barrels per day in the Iranian calendar year 1392 (March 21, 2013-March 20, 2014) which reached 2mbd in the Iranian month of Khordad, 1394.

He added that gas condensates production increased from 380,000 barrels to 600,000 barrels per day in President Rouhani's Government.

Referring to gas shortage when President Rouhani took office, he said that 240 million cubic meters of gas was produced in South Pars during the Iranian calendar year 1392 while next year (1394), the figure reached 354 million barrels showing a %50 increase.

He reiterated that powerhouses consumed 27 billion liters liquid fuel worth $18b in 1392 and increasing the use of gas resulted in decreasing in using liquid fuel.

He said, 'We are trying to reduce liquid fuel used by powerhouses to less than 10% by delivering 70b cubic meters of gas.'

Emphasizing developing West Karoun Oil Fields, he added that the amount of oil produced at the start of President Rouhani's Government was about 70,000 barrels per day which will increase to 260,000 barrels per day up to the end of current Iranian year.

Regarding the production of petrochemical products, Zangeneh said that 40.6 million tons of petrochemicals were produced in Iran in 1392 which hit 46 million tons in 1394.

He noted that petrochemicals exports increased from 12.8 million tons in 1392 to 18.8 million tons in 1394 indicating a 46% growth.


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