WarSclerotic

Minister: Iran’s oil export increased by 25 percent, Trend, February 17, 2014

(If Iran had 30 million barrels of oil stored in tankers at the end of January, and now has only 5 to 6 million barrels stored in tankers, does that mean that she sold about 24 – 25 million barrels in the first half of February? If so, she seems to be faring well with “limited sanctions relief.”  — DM)

Iran’s Oil Minister Bijan Namdar Zanganeh said that the country’s oil and condensate exports have increased by 25 percent in recent months, Shana reported on Feb.17.

According to the report, he said that there was 5 to 6 million barrels of unsold oil on tankers which prevents an increase in oil output.

According to the latest report of International Energy Agency published on Feb.13 says that the country’s oil exports reached 1.32 million barrels per day in January. Iran had an estimated 30 million barrels of crude held on tankers at the end of January, including 6 million barrels in vessels off China’s coast, according to the report.

Iran exported averagely 1.07 million barrels of oil during 2013, IEA reports indicate.

Iran’s Custom Administration latest report, published on Feb.10 indicates that the country’s condensate exports have increased by some 272.97 percent during the last three Iranian calendar months (October 23, 2013- January 20, 2014) compared to the previous months of the current year, which started on March 21, 2013.

Iran has exported $4.594 billion worth of condensates in the last three Iranian calendar months with an average monthly value of $1.531 billion.

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