IRANIAN OIL UP TO 2.5 MBPD
NGA wrote, first Vice-President Eshaq Jahangiri said on Monday that that Iran's oil exports have risen to 2.5 million barrels per day.
Addressing the 33rd Conference of Directors and Heads of Education Ministry, Jahangiri said, "Oil exports has risen to 2,500,000 barrels per day and children of the Iranian nation (officials) have been capable of moving the stopped wheels of oil production and regaining the past markets through increase in the production."
He said that though the year 1394 (2015-16) was one of the most difficult years in terms of budget, government managed to fulfill its promises despite budget restrictions."
He added that nuclear case and international relations were the most important challenges ahead and government tried to create atmosphere of constructive engagement with the world and make enemies disappointed in propagating Islamophobia.
He noted that nuclear success was one of the most important diplomatic achievements in Iranian history.
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REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.