Apr 10, 2016, 8:36 PM
News Code: 82029495
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Iran oil revenues rise up by 90%

Tehran, April 10, IRNA – Iran oil revenues in post-sanctions era has increased by 90 Percent and is expected to reach $21 billion this year (started March 21).

According to government estimates, the current oil export stood at 1.7 million bpd crudes including light and heavy oil at the current prices amounted to $21 billion this year.
The figure stood at $12 billion before the implementation of Joint Comprehensive Plan of Action (JCPOA).
Based on the statistics available, Iran exported 2.3 million barrels in pre-sanctions which declined to one million bpd following the sanctions.
According to Petroleum Minister Bijan Zanganeh, crude and gas condensate exports have now hit two million bpd.
Europe has joined the ranks of Iranian crude buyers. Iran planned to boost crude oil output.
Before the sanctions, Iran used to export 30 percent of crude oil to the European states.