Exports of oil products hit unprecedented 450,000 bpd

Exports of oil products hit unprecedented 450,000 bpd

TEHRAN – Iran has exported 450,000 barrels per day (bpd) of oil products for the first time on average during the current Iranian calendar year, ending March 20, 2017, IRNA quoted an oil official as saying.


According to Abbas Kazemi, the managing director of the National Iranian Oil Refining and Distribution Company, the exports of oil products even exceeded a 600,000 bpd record in some cases.

“Our policy is to boost the production level to keep the 600,000 bpd as the country’s constant exports figure for such commodities,” he said.

Kazemi further said that after the implementation of the Joint Comprehensive Plan of Action (JCPOA) the country’s oil industry has gone through major reform so that the projects in this area witnessed a significant acceleration in progress.

“We have received a lot of proposals from various countries like China, Japan and South Korea regarding the development of the country’s refineries and we are negotiating with some of them,” he noted. 

Iran holds 13 percent of the total share of oil products exports from the Middle East, Kazemi said in October.

According to the official, by exporting 450,000 barrels of gas oil and fuel oil on a daily basis, the country is now a net exporter of oil products.


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