The National Iranian Oil Company’s (NIOC) Managing Director, Ali Kardor, said that Iran’s exports of crude oil are expected reach 2.5mb/d by the end of the Iranian fiscal year, which concludes on March 20, reported Tehran Times.
According to NIOC’s Director for International Affairs, Mohsen Qamsari , Iran is exports about 2.2mb/d of crude oil and 500,000b/d of gas condensate abroad. He added that around 600,000 to 650,000b of Iranian crude are being sent to the European market and the rest is for Asia. Qamsari concluded that NIOC has plans to increase the figure in near future, informed Eghtesad Online.
During September, Iran’s top Asian buyers were China, Japan, India and South Korea, with accumulated imports of nearly 1.8mb/d of Iranian crude. This is considered a jumped of more than 70% compared with the same period in 2015, according to Reuters report on Asia’s September imports of Iranian oil.
These volumes come as Iran revitalizes its oil and gas sector after sanction have been lifted off the country in early 2017. Egypt Oil&Gas wrote mid August that NIOC had reported that the Islamic Republic was pumping 3.62mb/d of crude oil, with 2.74mb/d in exports during July. The exports consisted of 2.1mb/d of crude and 600,000b/d of gas condensation. Ghamsari had estimated at the time of the report that 25% of the country’s crude exports headed to Europe and 75% to Asia.