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Iranian Oil Minister Says Crude Production Has Exceeded 3 Million Bpd

Iranian Oil Minister Says Crude Production Has Exceeded 3 Million Bpd

Owji added that fuel manufacturing has additionally elevated to greater than 1 billion cubic meters.
He nevertheless pressured that the present capability of Iran’s oil and fuel manufacturing is on no account commensurate with the quantity of recoverable reserves.

Owji stated a rustic like Russia, which has much less recoverable reserves than Iran, at the moment produces 7.5 million barrels of oil per day.

The oil minister pointed to the participation of Iranian holdings and enormous banks within the growth of fields, particularly joint ones, saying since day certainly one of this administration’s tenure, the oil ministry has been continually in search of methods to extend the added worth of the trade.

Owji added that, whereas boosting the upstream sectors, the ministry has made an effort to create power safety and secure provide of fuel and liquid feed by constructing petro-refineries.

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