TEHRAN - Iran’s Minister of Petroleum Javad Owji said on Wednesday that his country oil production has reached 3 million barrels per day.
“We are in the daily production range of 3 million barrels of oil, while the country’s light oil production capacity has increased by 200,000 barrels per day with the initiative of my colleagues at the National Iranian Oil Company and the Oil Industry Research Institute,” he told reporters after a cabinet session.
Iranian experts have also launched a project in the Isfahan refinery with a capacity of 15 million liters of Euro-5 diesel that will be put into operation soon, he said.
“With the operation of this unit in the Isfahan refinery, about 50% of the diesel consumed in the country will be produced as per Euro-5” standards, Owji said.
Fuel quality improvement plans in Abadan and Tabriz refineries are also ready for operation, Owji said, stating that his ministry is seriously looking for improving fuel quality in the country’s existing refineries.
Owji has said Iran’s crude oil and petrochemical exports continue without disruption. He has announced Tehran’s plans to boost energy relations with friendly nations, such as China and Russia and attract investment from overseas without waiting for a deal on the removal of sanctions.
Owji said in October that his ministry had found new markets and export processes through which, “we have been able to transform the export of crude oil and gas condensate compared to the last few years”.
“With the new procedures presented by my colleagues in the international affairs of the National Iranian Oil Company, we have been able to find good and attractive markets for Iran’s crude oil, gas condensate, oil products and petrochemical products,” he added.
His remarks came after the U.S. Treasury announced new measures, targeting several firms based in China, the United Arab Emirates, Hong Kong and India that the United States accuses of involvement in the sale of Iranian petroleum and petrochemical products.
In July, the Iranian economy minister said the country’s income from oil and condensates exports was 580% higher in the first four months of the Iranian year (March 21 to July 21) compared with the same period a year ago.