Iran’s output hits 3.8m b/d


Iran’s Oil Minister Bijan Zangeneh

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Iran’s oil production is 3.8m barrels a day (b/d) and exports are running at 2m b/d, Iran’s Oil Minister Bijan Zangeneh told the Islamic republic’s parliament today.

Exports averaged 970,000 b/d in the 12 months ending 20 March 2014, he said.

Gas condensate production has increased from 380,000 b/d to 600,000 b/d since President Rouhani was elected in 2013.
Zangeneh said power stations consumed liquid fuel worth $18bn last year.

“We are trying to reduce liquid fuel used by power stations to less than 10 per cent by delivering 70bn cubic meters of gas,” Zangeneh was quoted as saying by Irna.