Figures by a major energy data agency indicate that Iran had the second largest growth in oil production in the world in 2023 despite continued pressure from the US sanctions on its oil exports.
Iran’s crude production increased by 1.4 million barrels per day during the late President Ebrahim Raisi’s administration despite over 600 new sanctions imposed by the West on exports, the country’s oil minister says.
The Organization of Petroleum Exporting Countries (OPEC) says Iran took the lead among oil producers in March 2024 when it produced 3 million 188 thousand barrels per day (bpd) of crude, 28,000 bpd more that its output in February.
Iran is commemorating the 73rd anniversary of its historic nationalization of the oil industry, a landmark event that reshaped the nation's trajectory.
Iranian Oil Minister Javad Owji says that Tehran’s oil exports won’t be hampered if Donald Trump wins the US presidential elections in November. He also added that sanctions and acts of sabotage have failed to stop the country’s progress in the oil sector.
Iran’s oil minister says the country is planning on increasing its crude production to 3.6 million barrels per day by the end of the current Iranian year, on March 20, 2024, and aims to hit the 4 million mark next year.
Iran’s exports of oil to China hit a historic record in August despite Washington pressure on Tehran, according to a report published in the local media citing data from a major international energy data company.
An oil pipeline blew up in a village near Bandar Khamir in southern Iranian Hormozgan Province along the Persian Gulf, in the early hours of Monday, according to local sources.
Iranian Oil Minister Javad Oji says since the start of the current administration in Iran two years ago, 33 half-completed projects have been inaugurated using a $12 billion investment.
Iran’s Oil Minister Javad Owji has said increasing investment, completing semi-finished oil projects, and boosting oil, gas volume, refining and rising petrochemical outputs have been the most important measures taken by his ministry since two years ago when the administration of President Ebrahim Raisi assumed office.
Iranian oil exports are surging in August, swelling global flows at a time when other producers are cutting back, Bloomberg has reported citing a firm that monitors satellite imagery of individual tankers. The data shows the country's oil exports have reached levels that were not even seen before Iran came under US sanctions in 2018.
An American-owned oil tanker long suspected of carrying Iranian crude oil began offloading its cargo near Texas late Saturday, tracking data shows. Tehran has previously warned against any move to discharge the cargo.
The head of National Iranian Oil Company and deputy petroleum minister says Iran’s production of crude oil will surpass 3.5 million barrels per day by the end of September in a new blow to US sanctions on the Islamic Republic.
Iranian oil output has increased by nearly 1 million barrels per day (bpd) since August 2021 and has now reached the highest level in almost five years at 3.1 million bpd, according to a report.
Iran’s crude oil exports to China have tripled over the past three years, up from 324,000 barrels per day in 2020 to approximately one million this year despite US sanctions targeting the Iranian oil exports, the latest figures by data analytics firm Kepler have showed.
A cargo of Iranian oil remains stranded off the United States coast because no one buys it despite the fact that Washington has authorized its unloading to ensure that buyers would not face penalties because “it is from a sanctioned country”, according to a report.
