Friday, May 24, 2024

Minister: Iran oil production increased 60 percent

Iran’s Oil Minister Javad Owji said oil production in the country has jumped 60 percent in the past 2 ½ years.

Owji, addressing the inauguration ceremony of the 28th Iran International Oil, Gas, Refinery and Petrochemical Exhibition in Tehran on Wednesday, highlighted Iran’s achievements in oil, gas, and petrochemical sectors through domestic capabilities.

He said, “Compared to August 2021, oil production has increased 60 percent, gas production is up 54 million cubic meters, over 50 million cubic meters have been added to gas refining capacity, processing capacity has surged more than 220 thousand barrels per day and petrochemical products have increased to nearly 10 million tons.”

The oil minister explained that Iran made the achievements despite draconian US-led Western sanctions.

He stated that of 79 oil, gas, and petrochemical projects have been completed without external assistance and by relying on the experts at home.

The Iranian oil minister also announced that Iran is set to inaugurate five petrochemical complexes, underscoring the country’s resilience in the face of relentless sanctions.

He also shed light on investment opportunities in Iran’s oil and gas sectors, adding Iran is ready to export the technical and engineering services to other countries.

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