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Iran's Oil Exports at 2.7m bpd

 Iran's Oil Exports at 2.7m bpd Iran's Oil Exports at 2.7m bpd

National Iranian Oil Company exported 2.74 million barrels of oil and gas condensates per day in July, of which 600,000 barrels were gas condensates, the company's director for international affairs said on Wednesday.

“Plans have been made not only to maintain crude exports level, currently standing at 2.1 million barrels per day, but also to increase it to pre-sanctions level,” Seyyed Mohsen Qamsari was also quoted as saying by Shana.

Underscoring the fact that Iran exported 2.35 million bpd of oil prior to international sanctions, the official said, “We have not yet touched the pre-sanctions level. Nonetheless, exports of crude are now at a good level.”

According to the official, a quarter of Ian's oil is sold to European customers and the rest is sent to Asian markets. Yet, gas condensates are only exported to certain destinations in Asia.

Stressing that Asia is the largest energy producer and has always played a major role in meeting global energy demand, Qamsari noted that most of Iran's traditional customers have already returned to the country's oil purchase cycle.

Serious talks are underway with new Asian and European customers, but they will remain unnamed as long as contracts are not finalized.

Financialtribune.com