Saturday 21 April 2018

Iran nets $32bn from oil, gas sales

Tehran, January 12, 2014

Iran has earned a record $32 billion revenue from the oil and gas sales for the first nine months of the current Iranian year (started March 21), more than it had expected, said a report citing the oil minister.

Of the total oil revenues, 14.5 per cent will be paid to the National Iranian Oil Company, 26 per cent will be deposited to the National Development Fund, and the rest will be deposited to the state coffers, Bijan Namdar Zanganeh was quoted as saying in the Tehran Times report.

The sale of gas liquids registered an increase of 100,000 barrels year-on-year, he added.

Zanganeh also clarified that the return of Iran to oil markets will not lead to a decrease in prices.
In a message to members of the Organization of Petroleum Exporting Countries (Opec), Zanganeh said that unconventional oil production from shale reserves by non-Opec countries will not be a threat to the organisation.
The oil minister also supported Opec’s policy for stabilizing its ceiling output at 30 million barrels per day, the report added.

Tags: Oil | Iran | gas |

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