Tag Archives: Iranian Ministry of Petroleum

IOOC is working on most of Iran'.s oil platforms. adding that since about two years ago.

Iran currently produces about 3.8 million barrels per day (mb d) and exports about 2.2 mb d. plus 400.000 bpd of condensate.

NIOC has informed buyers in Asia that it could reduce condensate exports in October because of the maintenance at South Pars. industry sources have said.

Since the Joint Comprehensive Plan of Action (JCPOA) was accorded Iran’s petrochemical industry has been booming.

Iran Heavy. one of the country'.s main export grades. settled at $51.60 a barrel. up 91 cents from the previous week.

India. China. the Nakhchivan Autonomous Republic. Armenia. Pakistan. Afghanistan and Sri Lanka also buy Iranian petroleum derivatives.

Iran'.s share in total reserves of the field is about 11 percent. Foroozan contains 3.432 billion barrels of in-situ oil reserves.

Crude oil production from South Pars is in a trial stage. but output can be increased to as much as 150.000 barrels per day in future.

Iran has struggled to expand oil exports after it sold all the oil it had stored for years at sea earlier this year.

Existing pipelines and facilities enjoyed the capacity to displace more than 370.000 barrels per day though the volume could be upgraded to 500 thousand barrels of crude oil.