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MEOG PRICES & PERFORMANCE MEOG

Iranian exports reach

highest level since 2018

IRAN IRANIAN Oil Minister Javad Owji has said the agreements with giant Chinese companies,
country’s crude exports have reached the highest record sour gas production and the launch of
level since the re-imposition of US sanctions in Phase 11 of South Pars (SP) gas field.
2018, state media reported. Talking to reporters on the sidelines of a cere-
Owji on Sunday added that Iran’s crude mony on construction and operation of the Tor-
exports have increased by 83mn barrels from the bat-e Jam 16-inch (406-mm) gas transmission
beginning of the current Iranian calendar year, pipeline project, Owji said that Iran and China
which started on March 21, 2022, to February have reached good agreements that will serve the
19, 2023, compared to the same period in 2021- two nations’ interests.
2022, reported the official news agency IRNA. He also pointed to the trade between Iran
It also showed a 190mn-barrel increase from and its neighbouring states in the sector of oil
the same time span in 2020-2021, he said, with- products.
out revealing the exact figure for Iran’s total Touching upon the country’s sour gas pro-
crude exports, Xinhua news agency reported. duction, the minister announced 1bn cubic
The Iranian oil minister claimed that the metres have been produced in the current Ira-
country’s gas exports have witnessed a year-on- nian calendar year (starting March 21, 2022),
year rise of 15% in the current Iranian calendar hitting a record high.
year, noting that Iran has raked in $6.5bn from During the yearlong period, Owji added,
its liquefied petroleum gas (LPG) exports since 1.8bn cubic metres of oil products were pro-
March 2022. duced and distributed and the daily production
In May 2018, the US intensified its sanc- of natural gas witnessed an increase of 20mn
tions on Iran, mainly targeting the country’s oil cubic metres when compared with that of its
exports and banking sector, following its unilat- preceding year.
eral withdrawal from a 2015 nuclear deal, for- Asked about the progress in the project of
mally known as the Joint Comprehensive Plan Phase 11 of South Pars gas field, the minister said
of Action (JCPOA). the National Iranian Oil Co. (NIOC) has done
The talks on the JCPOA’s revival began in great planning since 18 months ago, regretting
April 2021 in Vienna. No breakthrough had that nothing had been done in 20 years before
been achieved after the latest round of talks in that.
early August 2022. He expressed hope that SP Phase 11 will
become operational within the next two months
Gas updates after relocating Platform C of Phase 12 and drill-
Owji also provided updates this week on ing a well in Phase 11.™

P6 www. NEWSBASE .com Week 11 15•March•2023