Iran’s Oil Exports to Hit 2mln bpd in Coming Months: First VP
TEHRAN (Tasnim) – Iranian First Vice-President Eshaq Jahangiri announced on Saturday that the country’s oil exports, which currently stand at 1.3 million barrels per day, will be increased to 2 million bpd within a few months.
“One of the opportunities created by the JCPOA was the increase in oil exports,” Jahangiri said, referring to the nuclear deal between Tehran and world powers which terminated all nuclear-related anti-Iran sanctions after its implementation in mid-January.
Iran’s oil exports today stand at 1.3 million barrels per day, and will be increased to 1.5 million bpd by mid-March, he said, addressing a ceremony here in Tehran.
This will be increased to 2 million bpd in the coming months, the Iranian VP added, stressing that Tehran should maintain its share of the global oil market.
After the JCPOA, Iran will need $200 billion of investment just in its oil sector, he said.
The remarks came as a senior official was quoted as saying on Saturday that Iran will load 4 million barrels of crude oil on tankers destined for Europe in the next 24 hours, including 2 million barrels to be bought by France’s Total.
“In the coming 24 hours, 4 million barrels of crude oil will be loaded onto 3 tankers destined for Europe,” Rokneddin Javadi, the managing director of the National Iranian Oil Company (NIOC), was quoted as saying by the Shana news agency.
“Of those 4 million barrels of crude, 2 million barrels are assigned to France’s Total, and 2 million barrels have been bought by two companies in Russia and Spain,” he added, according to a Reuters report.