TEHRAN, Feb. 2 (Shana) � Managing director of the National Iranian Oil Company (NIOC) said that following removal of sanctions Iran is targeting export of 2.3 million barrels of crude oil a day for next year (starting March 21) and has put the figure in the draft budget bill.

Speaking to Shana after paying a visit to the mausoleum of the founder of Islamic Republic of Iran on Tuesday to mark anniversary of the victory of Islamic Revolution in 1979, Roknedding Javadi said that as promised, output will increase 500,000 barrels a day after withdrawal of sanction.

He supportedinvestment in the country�s upstream oil industry as the best sector for the allocation of resources from the National Development Fund and urged the lawmakers to facilitate it by passing the draft budget.

An export increase of 500,000 barrels after removal of sanctions and a subsequent increase of another 500,000 barrels within six months are on the agenda based on the country�s current capacity of crude production.
Iran was OPEC�s second-biggest producer before US-led sanctions banned its customers from purchasing, transporting, financing and insuring of its crude in mid 2012.
By SHANA