Saturday, February 24, 2024

Minister: Iran oil revenues up 40 percent, sets record in gas production

Iran’s oil minister says the country’s oil revenues have increased by 40 percent in the past 10 months compared to the same period last year.

Javad Oji said the revenues are from sales of oil, gas condensate, gas, and oil commodities.

Oji told Iranian MPs that over 70 million more barrels of oil and gas condensate were sold in the past 10 months compared to the same period in the previous year.

“We set a record in gas production this year as well and we extracted 705 million cubic meters per day in the South Pars gas field”, said the minister.

Iran’s oil and gas sectors have been under harsh US sanctions over the past years. But the country has managed to sell oil and gas by skirting the bans.

The US itself has acknowledged that Iran’s oil and gas exports are continuing despite the embargos.

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