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Iran will increase oil production by 700 thousand barrels per day

Иран нарастит добычу нефти на 700 тысяч баррелей в день

In the near future Iran will increase oil production by 700 thousand barrels a day. This was stated by managing Director National Iranian oil company Roknoddin Javadi, Rambler News Service reports with reference to Reuters data.

“One of the goals of the sixth five-year development plan is the extraction of 4.7 million barrels per day. To achieve this, we need to increase production by 700 thousand barrels,” he said.

On 17 February, Javadi said that Iran intends to increase oil exports to Europe. “Until the end of the current month we send a new batch of oil to Europe. It will be the second after the lifting of sanctions,” he said.

On the same day the Tehran approved the agreement of Russia and several OPEC to freeze oil production.

On January 17, the US and EU lifted sanctions on Iran. Tehran and “six” of international mediators (the U.S., Russia, China, Britain, France, Germany) have agreed on the nuclear programme of the Islamic Republic. She pledged to turn the plant for uranium enrichment at Fordow in the technology center, and the reactor in Arak to rebuild in accordance with the project of an international consortium. Spent fuel from it will be exported outside the country.

Following this, the government has approved increased production by 500 thousand barrels a day.

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