Iran's oil minister Javad Owji. FILE PHOTO

Iran's oil minister Javad Owji

Minister Says Iran's Oil Exports Reached A Record High Despite Sanctions

3/24/2022

Oil Minister Javad Owji says Iran has reached a record high of crude exports and revenues since sanctions hit the country’s oil industry in 2018.

Owji made his claim on Twitter on Wednesday without providing any data about the exports.

His post was accompanied with a photo and a quote from recent remarks of Supreme Leader Ali Khamenei, who said “Fortunately, new policies have shown that it is possible to promote foreign trade in spite of US sanctions and it is possible to enter into regional deals while developing the country’s oil sector.”

Owji said, “With the blessings of the Supreme Leader of the Revolution…and the full support of the esteemed president and the round-the-clock efforts of the oil industry staff, the revenue and export of the oil industry hit the highest record during sanctions”, adding that "The Oil Ministry provided foreign exchange and rial resources beyond its budget commitments."

On Tuesday, the head of the National Iranian Oil Company, Mohsen Khojastehmehr, said their vision is to ramp up crude production to above four million barrels per day, focusing on the development of West Karoun that is home to a cluster of oilfields shared with Iraq.

Earlier in the week, Owji said Iran plans to increase its daily oil production to 5.7 million bpd without providing any timeframe.

Iran’s illicit oil exports jumped in late 2020 from 200,000 bpd to around one million, as the new US administration signaled its readiness to negotiate with Tehran and revive the 2015 nuclear deal.

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