Oil Export Revenues Exceed Projections

Oil Export Revenues Exceed Projections

In the first five months of the current Iranian calendar year (began March 21), Iran crude exports surpassed projections by almost 8%, generating revenues over and above forecast in the annual budget endorsed by the parliament.
Deputy oil minister for planning and supervision of hydrocarbon resources told  Shana Iran rejects restrictions on oil exports. "Crude exports increased significantly over the five months despite all the embargos and other restrictions," Mansour Moa'azami said.
No figures and income data on the value and volume for the exports were available.
This is while Ismail Jalili, member of the Majlis Planning and Budget Commission of the Parliament, said "The law is clear on where to allocate the excess amount."
Speaking in Mashhad the lawmaker said "The (excess) income goes to the treasury. However, the annual budget has outlined some commitments with regard to the surplus earnings from oil exports." He did not elaborate.
Western sanctions imposed on Iran have hampered sales of oil and made it increasingly difficult for Iran's fleet to obtain insurance and financing.


Short URL : http://goo.gl/BSm1OB

You can also read ...

German ADL Signs Oil, Gas Technology Transfer Deal
German company ADL and Iran’s Sepahan Oil Company have signed...
 Solar Power Helps Japan Handle Electricity Surge
As temperatures soared to record highs across Japan this...
 Oil Sanctions Would Have  Little Impact on Russia
Stiff new US sanctions against Russia would only have limited...
Sinopec to Increase Gas Supplies
China’s Sinopec plans to ramp up natural gas supplies by 1.8...
The Caspian power project consists of a 310-MW gas unit and a 150-MW steam unit.
The gas-powered unit of Caspian Combined-Cycle Power Plant in...
 Zabol, Khash  to Receive  CNG in H2
Compressed natural gas will be supplied to the cities of Zabol...
China Water Company Signs MoU to Build Dams in Maku
A memorandum of understanding was signed by Maku Free Zone,...