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Iran registers highest oil, petchem export record after sanctions re-imposition

Thursday, 24 November 2022 | 01:00

Iranian Oil Minister Javad Oji said the country has reached the highest record of oil, gas condensate, and petrochemical exports since 2017 (when the U.S. started re-imposing sanctions on Iran’s oil industry) in the eighth Iranian calendar month of Aban (October 23-November 21), Shana reported.

The minister made the statement at a gathering of oil industry employees on Tuesday.

“Iran’s oil industry is now at the forefront of the economic war and the toughest sanctions have been imposed on this industry,” he said, noting that the industry has thrived despite the mentioned pressures.

Iran has been ramping up its oil production and exports over the past year as the country has been implementing new strategies to overcome U.S. sanctions.

The Islamic Republic’s oil revenues increased by eight times in the first five months of the current Iranian calendar year (March 21-August 22) with respect to the same period of the previous year, according to official statistics.

As Tasnim news agency reported, Iran’s oil revenues also increased by 11 times in the previous year.
Source: Tehran Times

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