Sunday, June 23, 2024

Dozens of oil, gas projects to come on stream within months: Iran’s VP

Iran’s First Vice President Mohammad Mokhber has stated that 67 oil and gas projects will be put into operation by the end of the current Iranian calendar year (March 19, 2024).

Out of 83 oil and gas projects worth $36 billion, 67 valued at more than $15 billion will come on stream by March, Mokhber said.

On Monday, Oil Minister Javad Owji said that Tehran completed semifinished projects worth over $12 billion last year and more partly-finished projects worth $15 billion will become operational by mid-March 2024.

Iranian officials have stressed US attempts to disturb Tehran’s trade through sanctions have failed. They state Washington has been defeated in the maximum pressure policy against their country.

In mid-June, a Reuters report quoting consultants, shipping data and a source familiar with the matter said Iran’s crude exports and oil output have hit new highs in 2023 despite Washington’s harsh sanctions aimed to zero down Tehran’s crude sales, adding to global supply when other producers are limiting output.

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