Oil

Iran'.s light and higher-value crude averaged $41 per barrel in 2016 and its heavy oil grade averaged $39.19.

Iran has ramped up oil exports to European customers to 710.000 barrels per day

Ayatollah Hashemi revived oil industry after the imposed war.

In addition to Iraq. products were exported to Turkey. Afghanistan. Georgia and Turkmenistan.

NITC operates one of the world'.s largest tanker fleet ahead of regional rival Saudi Arabia as well as Qatar. Oman and the UAE.

Iran'.s untapped hydrocarbon market is lucrative enough to appeal to lots of international companies.

Oil market sources said that they expect to see China’s imports of crude oil from Iran to surge to a record high in 2017.

Director of International Affairs of NIOC presides over selling country'.s oil.

Iran is also looking to use the opportunity to push into new markets in Europe.

Iran won an exemption from the group'.s production cuts agreed to on Nov. 30 to raise output slightly.