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No Raise in Iran Oil Exports

Source: 8/19/2015, Location: Asia

Director of international affairs at National Iranian Oil Company (NIOC) says Iran has no plans to raise its oil exports until the western embargoes on the Islamic Republics energy sector are lifted.

Currently, Iran sells around 1.1mb/d of crude oil to its traditional customers.

Mohsen Qamsaris remarks came as a reaction to some media reports which said Iran is planning to raise its crude oil sales before the western sanctions on the country are lifted.

On Tuesday, managing director of the National Iranian Oil Company Roknoddin Javadi said the same about Irans output level.

He said: “Any increase in Irans oil production depends on the removal of sanctions and [the country’s] oil output will not undergo any change as long as sanctions are in place.,”

Recently, some media reports have suggested that Iran aims to boost its crude output by 500,000 barrels per day (bpd) within the coming week.

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