Iran is planning a speedy increase in its oil output, a senior oil ministry official said on Wednesday, as talks continue between Tehran and six major powers to lift U.S. sanctions that have seen it pumping far below capacity since 2018.
Iran is planning a speedy increase in its oil output, a senior oil ministry official said on Wednesday, as talks continue between Tehran and six major powers to lift U.S. sanctions that have seen it pumping far below capacity since 2018. Iran and the six powers have been in talks since April to revive a 2015 nuclear deal that former U.S. President Donald Trump exited three years ago, reimposing sanctions that have hit Iran’s economy hard by sharply cutting its vital oil exports.
Iran projects 90 days to hit 4 million barrels of daily oil output once sanctions are lifted By Arsalan Shahla on 6/9/2021
Iran s Abouzar production platform
(Bloomberg) - Iran plans to restore the bulk of its crude oil production within one month of the easing of U.S. sanctions if world powers manage to broker the revival of the 2015 nuclear deal, the official Shana news agency reported, quoting an official at the National Iranian Oil Co.
Three different scenarios have been planned to return Iranâs oil production to pre-sanctions levels, with the first aimed at raising output to 3.3 million barrels a day within a month, followed by an increase in production capacity to more than 4 million barrels a day, Farokh Alikhani, the NIOCâs deputy for production said, according to Shana.
June 9, 2021
Iran will quickly scale up its crude oil output if US sanctions are lifted as part of a revived nuclear agreement between Tehran and world powers, a senior official at the National Iranian Oil Company (NIOC) told state media outlets.
“If sanctions are lifted, the bulk of Iran’s output will be restored within one month, with full output restoration happening within three months,” Farokh Alikhani, NIOC’s production manager, told Shana news agency. Careful planning has been done to restore oil output to pre-sanctions levels in intervals of one week, one month and three months, Alikhani said, adding that Iran planned to increase output to 3.3 million barrels a day within a month of the lifting of sanctions.
DUBAI: Iran is planning a speedy increase in its oil output, a senior Oil Ministry official said on Wednesday, as talks continue between Tehran and six major powers to lift US sanctions that have seen it pumping far below capacity since 2018.
Iran and the six powers have been in talks since April to revive a 2015 nuclear deal that former US President Donald Trump exited three years ago, reimposing sanctions that have hit Iran’s economy hard by sharply cutting its vital oil exports.
“If sanctions are lifted, most of the country’s crude production will be restored within a month,” Farokh Alikhani, production manager of the National Iranian Oil Co. (NIOC), told the Oil Ministry’s SHANA website.