Iran hits record oil exports

Over the past year, Iran's oil exports were the highest in four years, Iranian Oil Minister Javad Owji said.

According to the Iranian calendar, the year begins not on January 1st, but on March 21st. Summing up the results of the outgoing year, the Minister spoke about record oil exports. According to him, the republic reached the maximum oil export rates over the past four years. During the year, Iran supplied the world market with 83 million barrels of oil, it was more than a year earlier, and 190 million barrels more than two years earlier, he said. Oil export revenues also rose over the year.

LNG exports also increased, the minister noted. In addition to this, Iran increased its natural gas exports by 15%, Tasnim reports.

The bulk of Iranian oil supplies come from China. Mutually beneficial cooperation will be expanded. Iran and China will conduct joint development of oil and gas fields in the territory of the republic, agreements on this have already been signed.

It should be noted that in December it was reported about Iran's plans to increase oil production at the Azar field by 80%. In addition to this, new deposits of oil were found in the southwest of Iran.