Iran Press/ Iran news: Speaking at the Energy Bourse, Owji stated that the value of Iran's oil exports increased from $10.8 billion in 2019 to $36 billion last year. He attributed this significant rise to the investments made in the oil industry over the past three years, noting that without these investments, Iran could have experienced a situation similar to Venezuela, where oil production dropped from 4.8 million barrels to 300,000 barrels per day.
Owji revealed that Iran's oil production, which stood at 2.107 million barrels per day at the beginning of the 13th administration, has now reached 3.570 million barrels per day.
Additionally, the country's oil exports have increased from 182 million barrels in 2019 to 565 million barrels in 2023.
The minister also addressed the previous administration's challenges in selling oil and gas condensate, stating that the former petroleum minister, Bijan Zanganeh, had requested the license to purchase 12 large oil tankers to store unsold crude and gas condensate on the sea.
However, under the current administration, the focus has been on increasing oil production and exports, and no such purchases were made.
Owji further highlighted the 13th administration's efforts in the oil industry, stating that they have pursued the implementation and completion of 300 semi-finished and new projects worth $130 billion, of which 155 projects worth $34 billion have been completed.
The surge in Iran's oil exports and revenues under the new administration reflects the government's efforts to revive the country's energy sector and capitalize on the global oil demand. This development comes amid ongoing tensions with the United States and the impact of sanctions on Iran's economy. 204
