Bijan Zanganeh, the Iranian Minister of Oil, stated that we have increased oil production in the country.
Bijan Zanganeh, the Iranian Minister of Oil, has said that the country’s oil production has reached from 2.2 million barrels to 3.6 million barrels per day.
Mr. Zanganeh announced the increase of 1.4 million barrels of Iranian oil at the end of the cabinet meeting.
According to statistics provided by the Organization of the Petroleum Exporting Countries (OPEC), Iran’s production was around 2.5 million barrels until two years ago.
IRNA, the official news agency of the Islamic Republic, had promised, based on Mr. Zanganeh’s statement on the 19th of Tir, that the country’s oil production will reach 4 million barrels per day by the end of the current solar year.
Iran’s oil exports were severely restricted following the re-imposition of US sanctions against Iran, leading to a decrease in oil production.
Issues related to the inability to attract foreign investment for the development of old fields and the exploration and extraction of oil from new fields have also contributed to the decline in Iran’s oil production.
The Iranian Minister of Oil stated in his latest remarks about the amount of oil production that the country earns nearly $3 billion annually for every 100,000 barrels of oil exported per day.
Persian
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