Iran’s oil exports rise to 1.8 million barrels/day – report

Iran has increased its crude oil export to 1.8 million barrels a day, Shana news quoted Rokneddin Javadi, managing director of the National Iranian Oil Company (NIOC) as saying.

Javadi set a 4-billion-barrel output target for next year and said that post-sanctions development will be the main item on the oil industry’s agenda during the Fifth Five-Year Economic Development Plan.

The NIOC is required to produce 2 billion barrels of oil a year to be able to carry out its development plans in terms of optimisation of production, new explorations, and enhanced oil recovery, Shana quoted Javadi as telling a company meeting.

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