Iran oil output beats 3.8 million bpd, eyes 4 million

Iran's crude oil production has surpassed 3.8 million barrels per day (bpd), oil minister Bijan Zanganeh announced on Saturday, adding that Tehran expects output to reach 4 million bpd by March 2018, Reuters reported.

ISNA - Iran's crude oil production has surpassed 3.8 million barrels per day (bpd), oil minister Bijan Zanganeh announced on Saturday, adding that Tehran expects output to reach 4 million bpd by March 2018, Reuters reported.

"Oil production has exceeded 3.8 million barrels. The country's oil output will reach 4 million barrels by the end of the year," Zanganeh said, referring to the Iranian year which ends on March 20.

In mid-June, Zanganeh said output had reached 3.8 million bpd.

Meanwhile, Iran commenced the supply of natural gas to Iraq via a pipeline, the deputy of National Iranian Oil Company Amir Hossein Zamaninia said.

 “Exports have begun at the rate of 7 million cubic meters per day and will eventually increase to 35 mcm/d,” he added.

"The long-awaited project finally went on stream after four years of delay due to the challenging security situation in war-torn Iraq," Zamaninia said, adding that the gas will be supplied under two contracts, one for exports to Baghdad power plants, and the other to Basra.

Jun 25, 2017
ISNA |