Iran oil and gas exports hit 2.74mn bpd, NIOC reveals

crude oil 26424952N00 flickrIran has reportedly exported 2.74mn bpd of crude oil and gas condensates, according to the National Iranian Oil Company (NIOC)

Mohsen Qamsari, director of international affairs at the NIOC, said that crude oil exports alone had dropped last month from before the anti-Tehran sanctions were lifted, which saw exports at 2.3mn bpd.

Iranian oil minister Bijan Zangeneh had said in June that the country’s oil production had exceeded 3.8mn bpd with the target of reaching the four billion bpd mark.

One fourth of all the crude oil exported by Iran goes to Europe while the rest of the crude oil, along with the condensate exports, goes to Asian states.

After the nuclear deal in July last year with the P5+1 group of countries including the United States, Russia, France, China and Britain plus Germany guaranteeing the peaceful nature of Tehran's nuclear programme, the European Union, the United Nations and partially the USA lifted sanctions against Iran, enabling it to restart oil supplies to the global market.

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