Iran exporting half of its oil to Europe

Managing Director of National Iranian Oil Company (NIOC) Ali Kardor made the remarks on the sidelines of the signing ceremony of MoU between NIOC and Italy’s Eni Company.

Earlier Kardor said if we add the country’s average gas condensate export of 700,000 barrels per day to the number, a record total export number of three million barrels will be obtained for February.

Kardor went on to say that the oil production in the country will reach four million barrels at the end of Farvardin (March 21-April 21), the first month of the Iranian calendar year.

Under the sanctions Iran’s oil production was 2.7 million barrels per day, with one million barrels heading for export markets.

Anti-Iran sanctions were lifted on January 16, 2016.

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