Iran increases oil production thanks to Russia and China

Iran has been actively seeking partners to boost its oil and gas industry amid Western sanctions. China and Russia have emerged as its main allies, with China taking in most of Iran’s oil exports, despite the sanctions, OilPrice reported.

The alliance appears to be working, with official data showing Iran ramped up crude oil output to 4.3 million barrels daily in 2024.

Tehran’s plans for 2025 were for a further boost in production: assistance has come from Russia, on the ground and from equipment and technology, and China was still a big buyer, in keeping with the long-term agreements done by Iran with both.

Earlier, Iran's oil minister Mohsen Paknejad said during a meeting with Belarusian energy minister Andrei Kuznetsov that Iran is open to international partnerships in the oil and gas industry, offering “golden investment opportunities” in the area.

The statement follows a higher-level meeting between the presidents of Iran and Belarus, where they signed a number of cooperation agreements across industries.