Iran eyes 1.7 mbd oil output capacity increase

SHANA – Iranian Minister of Petroleum Bijan Zangeneh Iran will increase its crude oil production capacity by at least 1.7 million barrels per day provided that its talks with foreign partners reach fruition.

Speaking in a televised interview on Saturday night, the official said: “If the talks reach fruition, we will ramp up the country’s crude oil production capacity by over 1.7 mbd, which is a difficult job to do as only a section of the task is on us [Iranian Ministry of Petroleum] an the rest depends on political conditions both inside and outside of the country.”

He said Iran is currently exporting around 13 mcm/d of natural gas to neighboring Iraq, adding the country is exporting gas to Turkey by 30 mcm/d.