Thursday, February 2, 2023

Iran Breaks Records by Exporting 7m Barrels of Oil in One Day

An Iranian oil official says the country has broken many records in oil and gas exports after the implementation of nuclear deal between Tehran and world powers, one of which is the export of 7 million barrels of crude oil in just one day.

According to a report by Tasnim, as translated by IFP, Pirooz Mousavi, the managing director of Iran’s oil terminals, noted that the export of more than 7 million barrels of crude oil is just one example of the accomplishments of Iranian terminals in the export of oil.

“In the post-JCPOA era, all records in the export of oil and gas consolidates have been broken by Iran Oil Terminals Company,” he said.

His remarks came as Mohsen Qamsari, the director for international affairs of National Iranian Oil Company (NIOC), recently announced the country has reclaimed about 80 percent of its share in global oil markets since sanctions against the country were removed.

Iran exports about 2 million barrels of its daily output of 3.8 million and has regained about 80 percent of the market share it held before the anti-Tehran sanctions, Qamsari told Bloomberg in an interview.

He added that oil markets will remain stable this year even as Iran plans to keep boosting crude exports.

“Our exports peak is above 4 million barrels a day, and we have plans for that and are waiting for the right conditions,” Ghamsari stressed.

On June 27, the Atlantas Very Large Crude Carrier (VLCC), destined for Gdansk, left Iran’s Kharg Island laden with 2 million barrels of crude.

The cargo was the first Iranian crude sold into this part of the Baltic Sea market.

Before sanctions, Iran was exporting about 2.2 million barrels per day (bpd).

The sanctions were lifted after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached an agreement on Iran’s peaceful nuclear program and started implementing it on January 16.

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