NIOC Says Iran Crude Output to Hit 4mbd by March

Addressing a press conference held on the occasion of the anniversary of the victory of the Islamic Revolution, the official said the country’s crude oil and condensate exports are expected to reach 3 million barrels by the end of the year. 

Iran exported a maximum of 0.9mbd to Europe during December, he said. 

The NIOC chief said that Iran’s total natural gas output has reached 840 mcm/d from 490mcm/d in 2013. 

He also said that Iran’s production of natural gas from the supergiant South Pars Gas Field, which Iran shares with Qatar in Persian Gulf waters, stands at 480mcm/d.