Iran’s oil revenues rose 59% in 2011, OPEC says

Iran’s revenues from export of crude and oil products jumped 59 percent in 2011, despite mounting pressure on the country by Western sanctions, Tehran Times cites the Organization of Petroleum Exporting Countries (OPEC) as saying.

Iran exported crude and petroleum products valued at $114.8 billion, compared with $72.2 billion in the previous year, data from the annual statistical bulletin of OPEC showed.

Iran’s revenue increased even as the volume of the nation’s shipments fell 8.5 percent, according to OPEC.

According to the report, the value of Iran’s exports has more than doubled since 2009. The value of the country’s petroleum and oil products exports stood at $55.7 billion in 2009, increasing to $114.8 billion in 2011.