Tasnim– CEO of the National Iranian Oil Company (NIOC) Ali Kardor said that given the willingness of some European countries to buy Iran’s crude oil, the country may increase its exports to Europe in the current year.





Speaking to the Tasnim News Agency, Kardor said Iran currently exports 600,000 to 700,000 barrels per day of crude oil to Europe.

He predicted that the figure would rise in 2017 given the eagerness of more European countries to buy crude oil from the Islamic Republic.

The deputy oil minister also said that all of the problems in the way of insurance for transportation of Iranian oil and petroleum products have been resolved following the lifting of anti-Tehran sanctions.

The sanctions were terminated after Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached a conclusion over the text of a comprehensive 159-page deal on Tehran’s nuclear program and started implementing it on January 16, 2016.

Earlier this week, Kardor said the country’s oil production would surpass 4 million barrels a day by the end of March.

Iran’s production stood at about 3.7 million barrels a day in the last quarter of 2016, according to independent sources used by OPEC.