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Iran oil income to double in post-sanction era

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Staff writer ▼ | October 12, 2015
Minister of Economic Affairs and Finance Ali Tayebnia said Iran can increase its crude oil export by one million barrels per day upon removal of sanctions.
Ali Tayebnia
Energy in Iran   Repercussions of the declining oil prices
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“After raising export of oil by one million barrels, the country’s oil income will double,” he said, adding that despite of dependency on oil revenues, Iran has proved successful in managing the negative effects of the unprecedented sanctions.

He said the government had anticipated repercussions of the declining oil prices last year and it success in the nuclear negotiations was due to achievement in the economic field and coordinating politics with economics.

Earlier, deputy petroleum minister for planning and monitoring of hydrocarbon resources said Iran will win back its quota in the global oil markets by doubling the current output to 2 million barrels per day within six months after sanctions are lifted.

“Iran’s crude oil has its buyers. As soon as the sanctions are withdrawn, we will not wait and will do our utmost to boost export,” Mansour Moazami told Shana.

“It is our estimate to increase the export output by 500,000 barrels per day within the shortest possible time after sanctions’ removal, and to further raise it for another 500,000 barrels within six months,” he added.

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