Iran’s total revenues obtained from oil and gas exports in the previous Iranian calendar year to late March exceeded $55 billion, up 43% compared to figures reported a year earlier, the country’s oil minister says.
Javad Owji said that Iran is producing oil some one million barrels per day (bpd) more than it did two years ago when President Ebrahim Raisi took office.
He noted that the country’s daily oil production stood at 2.3 million bpd in the beginning of the current administration while it has now risen to 3.3 million bpd.
“The important point is that the produced oil is either consumed at the domestic refineries or exported overseas.”
Earlier, CEO of National Iranian Oil Company (NIOC) Mohsen Khojastehmehr said Iran’s oil export has doubled and will hit 3.5 million bpd by the end of the calendar month of Shahrivar (Sept. 23).
According to OPEC’s statistical bulletin in 2023, Iran’s oil revenues in 2022 were estimated at $42.6 billion.