TEHRAN - Iran’s oil production rose slightly in April against the first quarter this year, OPEC figures show, as a media report claims Iran’s crude export volumes remained stable last month despite reports suggesting that shipments to China had declined because of higher Russian exports to the East Asian country.
Figures by the Organization of Petroleum Exporting Countries published have showed that Iranian oil production had reached an average of 2.564 million barrels per day (bpd) in April, an increase of 1.4% against figures reported in the January-March quarter and up 7.2% against the similar quarter in 2021.
The figures are consistent with reports in recent months suggesting that Iran has been selling more crude despite direct American sanctions targeting the country’s exports.
Government authorities have indicated that Iranian oil exports reached an average of 1.6 million bpd in late 2021 and remained at the same levels in the first quarter this year.
China has been the dominant buyer of Iranian crude in recent months although some reports have suggested that Iranian crude exports to China declined in April by as much as 256,000 bpd as Russian shipments to East Asia increased after Western countries imposed sanctions on Moscow because of the war in Ukraine.
Citing the new OPEC figures, Iran’s official IRNA news agency said the figures prove reports about dwindling Iranian oil exports to China were wrong.
The report said that Iran’s domestic consumption of crude was flat in April, meaning that export figures had remained unchanged over that month.
It added that increased oil output in April as reported by OPEC means that Iran had either sold more crude to China or it had found a new market for its oil.
On Wednesday, Iranian Minister of Petroleum Javad Owji said that his country has its own customers in the oil market and continues selling oil at a good price, announced here.
New markets have been identified, Owji told reporters after the cabinet session today.
Asked about the government’s plan for knowledge-based companies, the minister said that regulations have been planned to support the companies active in the areas of oil and gas.
Also about Arash Gas Field, the petroleum minister said consultations from Iranian Foreign Ministry with Kuwait and Saudi Arabia are underway to settle dispute over the issue.
In a related development, Iran’s Petroleum Ministry announced on March 27 that it has undertaken necessary studies on developing and drilling in Arash field – a joint gas field between Iran, Kuwait, and Saudi Arabia.
Development and drilling in the joint fields should be done with solidarity, deputy petroleum minister for international and commercial Ahmad Assadzadeh said on the same date.