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2017-08-29 18:05:00

IRANIAN OIL EXPORT: 2.6 MBD

IRANIAN OIL EXPORT: 2.6 MBD

IRNAIran has exported an average of more than 2.6 million barrels of oil and gas condensate per day last month (July 23- Aug 22), Minister of Petroleum Bijan Zangeneeh said.

Emphasizing the necessity of observing a production based on maximum efficient recovery, Zangeneh said, the country 'is currently producing over 3.8 million barrels of oil per day but the current amount of production is by no means proportionate to the country's reserves.'

'The optimal production means a production with the maximum recovery rate, that can boost the country's economic, security and political power,' he added.

In Iran's sixth development plan, the oil production capacity is aimed at 4.8m bpd which indicates the capacity of production but the real level of production at the end of the plan will be determined by the quota fixed by the Organization of the Petroleum Exporting Countries (OPEC) as well as other factors that may lower the production level, Zangeneh said.

He added that the current level of Iran oil production is nearly the same as that of the pre-sanction era.

The cut in oil production in some fields, has been balanced, said the minister adding, in one of the oil fields, Karoon-e Gharb (Western Karoon), the production has increased to 280,000 bpd from its previous 70,000 figure.

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Tags: IRAN, OIL, EXPORT, ИРАН, НЕФТЬ, ЭКСПОРТ

Chronicle:

IRANIAN OIL EXPORT: 2.6 MBD
2018, June, 20, 12:45:00

NORWAY'S OIL PRODUCTION 1.629 MBD DOWN 236 TBD

NPD - Preliminary production figures for May 2018 show an average daily production of 1 629 000 barrels of oil, NGL and condensate, which is a decrease of 236 000 barrels per day compared to April.

IRANIAN OIL EXPORT: 2.6 MBD
2018, June, 20, 12:40:00

LIBYA'S OIL PRODUCTION DOWN 400 TBD

PLATTS - Libyan crude production has fallen around 400,000 b/d -- or nearly halved -- due to militia attacks on the eastern oil terminals of Ras Lanuf and Es Sider, the head of the country?s National Oil Corp. said Tuesday.

IRANIAN OIL EXPORT: 2.6 MBD
2018, June, 20, 12:35:00

VENEZUELA'S OIL PRODUCTION DOWN

PLATTS - Venezuela's crude output averaged 1.36 million b/d in May, down from 1.41 million b/d in April, and 1.9 million b/d in May 2017, according to S&P Global Platts. The International Energy Agency said it could fall to 800,000 b/d or even lower next year.

IRANIAN OIL EXPORT: 2.6 MBD
2018, June, 20, 12:30:00

NIGERIAN OIL SALES

PLATTS - Nigerian oil has been slow to sell this month as bidders for the country's July-loading heavy and light sweet crudes have been absent from the market. Market participants pegged the amount of unsold Nigerian barrels loading in July at 20 million-34 million barrels, amounting to roughly 40%-75% of what is produced in a month.

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