Page 8 - MEOG Week 45 2021

MEOG PIPELINES & TRANSPORT MEOG

Iranian oil production up 0.8% in September

IRAN THE latest data from the Organization of the Afghan imports
Petroleum Exporting Countries (OPEC) shows Meanwhile, Afghanistan announced it will
that crude oil production in Iran rose slightly in resume imports of Iranian oil and gas prod-
September to reach 2.5mn barrels per day (bpd). ucts across the border, according to the head
The figures also stated that oil production in of the joint chamber of commerce between the
Iran in September increased by 21,000 bpd, or countries.
0.84%, compared with the August production The plans were reported on November 8
figures. by the official Islamic Republic News Agency
OPEC collects its oil production data on Iran (IRNA) which quoted Mira Jan Suleiman
based on information provided by secondary Kheil who headed the joint chamber between
sources. the countries before the fall of the US-backed
Monthly production tables presented by the Afghan government to the Taliban has resumed
organisation this year have relayed how Iran has his position conducting cross border trade with
been able to substantially increase its oil produc- Iran’s eastern neighbour.
tion this year. Analysts believe the surge proves Illegal exports of petrol, diesel and gas can-
that Iran is in fact exporting more oil on the grey nisters have grown in recent months as the Tal-
market despite the still applicable US sanctions iban failed to secure the country’s borders and
brought in by ex-US president Donald Trump manage the economy. Iranian commercial inter-
that aim to drive Iranian oil export shipments to mediaries have used the opportunity of a lack of
zero. oversight to bring thousands of gallons of fuel
Iran was OPEC’s third-largest crude pro- across the border by motorbike couriers and sell
ducer before the Trump sanctions took effect, on the black market.
initially with some waivers, from 2018. The resumption of official trade between
Iranian Oil Ministry officials have repeat- Iran and Afghanistan will see official exports
edly stated that the country is capable of quickly resumed after a two and half month hiatus.
increasing its oil production to pre-sanctions Last month, the spokesman for Taliban
levels, to around 3.8mn bpd, if Tehran and world said delegations from Taliban and Tehran have
powers were to reach an agreement to revive the reached important agreements on economic
2015 nuclear deal. Talks aimed at making such issues and expansion of bilateral cooperation.
a deal are set to recommence on November 29. Iran’s position on the Taliban has been con-
In a recent report, OPEC said that the aver- structive engagement realising the reality of the
age price of Iranian oil in September was $74.08 situation on the ground next door.
a barrel, up more than 5% from the previous The Afghani currency has nosedived since
month. the Taliban’s takeover forcing many in the coun-
The report also said that OPEC’s total pro- try to flee to Iran who now makes up one of the
duction in September reached 27.3mn bpd, up largest Persian expatriate communities in the
1.8% from August. world outside of their home state.™

P8 www. NEWSBASE .com Week 45 10•November•2021