TEHRAN: Iran is to register a new record in export of crude oil and gas condensates following implementation of the Joint Comprehensive Plan of Action (JCPOA) which has accelerated Iran’s return to the oil market to reclaim its lost quota.
Based on a report by the Petroleum Ministry deparment for OPEC Affairs and Relations with Energy Organizations, the record is expected to be registered during the Iranian month of Tir (June 21-July 21) thanks to a remarkable increase in the volume of oil to be delivered to Asian and European customers.
The volume of Iran’s exported oil which stood at one million barrels a day in the opening month of 2016 has grown to 2.1 million barrels with non-official sources putting the number at 2.31 barrels per day. As for the loading of oil ships, the report quoted an informed source as saying that Iran’s export of crude oil will get to its highest level in June since January 2012. It cited the steady growth of Iran’s oil exports to Europe as the major reason for the hike.
It also said that the export of Iran’s crude oil and gas condensates will amount to 2.31 million barrels a day in June showing an increase of 100 thousand barrels compared to its previous month. The volume of Iran’s oil exports to Europe will also rise to 580000 barrels per day in June from the 530000 barrels per day in May, 2016. In June, Iran will also deliver oil consignments to China, India, South Korea, Japan, Europe and a number of other destinations. The amount of crude oil to be exported in June will be the highest ever in the past 54 months.
