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2017-09-11 12:30:00

IRANIAN OIL WILL UP

IRANIAN OIL WILL UP

SHANA - Iran says its crude oil production will reach 4.5 million barrels per day in a matter of a few years, end of the 6th five-year development plan to 2022.

Ali Kardor, managing director of National Iranian Oil Company (NIOC), said Iran will reach an oil production rate of 4.5 million barrels per day (bpd) within five years.

Currently, Iran's output stands at around 3.8 mbd.

Iranian gas production will reach 1.3 billion cubic meters per day and production of gas condensate will reach 864,000 bpd in the next five years, Kardor said.

The boost in oil production will come from an increase of 420,000 bpd from the West Karoun oil field and an additional 280,000 bps from oil fields in central and southern Iran as well as the Iranian Offshore Oil Company (IOOC), Mr. Kardor said.

Oil exports are expected to reach up to 2.5 million bpd within five years, Kardor added.

The increase in gas production is expected to come from South Pars, the world's largest gas field, according to Kardor.

The official also said that production of liquefied petroleum gas (LPG) will increase to 10.5 million tons/year and ethane output of the country will grow to 8.8 mt/y.

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Earlier:

 

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Tags: IRAN, OIL, PRODUCTION

Chronicle:

IRANIAN OIL WILL UP
2018, June, 18, 14:00:00

U.S. IS BETTER

IMF - Within the next few years, the U.S. economy is expected to enter its longest expansion in recorded history. The Tax Cuts and Jobs Act and the approved increase in spending are providing a significant boost to the economy. We forecast growth of close to 3 percent this year but falling from that level over the medium-term. In my discussions with Secretary Mnuchin he was clear that he regards our medium-term outlook as too pessimistic. Frankly, I hope he is right. That would be good for both the U.S. and the world economy.

IRANIAN OIL WILL UP
2018, June, 18, 13:55:00

U.S. ECONOMY UP

IMF - The near-term outlook for the U.S. economy is one of strong growth and job creation. Unemployment is already near levels not seen since the late 1960s and growth is set to accelerate, aided by a near-term fiscal stimulus, a welcome recovery of private investment, and supportive financial conditions. These positive outturns have supported, and been reinforced by, a favorable external environment with a broad-based pick up in global activity. Next year, the U.S. economy is expected to mark the longest expansion in its recorded history. The balance of evidence suggests that the U.S. economy is beyond full employment.

IRANIAN OIL WILL UP
2018, June, 18, 13:50:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

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IRANIAN OIL WILL UP
2018, June, 18, 13:45:00

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