Jan 15, 2022, 10:28 AM
Journalist ID: 2379
News Code: 84613521
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Ten-billion-dollar boom in Iran oil income

Tehran, IRNA – Experts have said that with the marketing done during the tenure of the new Iranian government since August 2021, customers for to the country's oil have increased.

New oil customers were added while the traditional buyers still exist, experts have noted according to a report released by Iranian official newspaper "Iran" on Saturday.

At its report, Iran Newspaper gave details about the increase in country's oil exports in the first six months of the Iranian calendar year which will end on March 20, 2022.

According to the Central Bank of Iran (CBI), Iran's oil income in the first six months of the year has been about ten billion dollars more compared with the same period of the previous year.

According to the report, Iran has witnessed 18.6 billion dollars in it oil income during the first six months while the figure has been 8.5 in the preceding year.

So, Iran experienced 118 percent increase in its oil exports' worth while Iranian officials have announced that all forex income has been returning home.

In a related development, Iranian President Ebrahim Raisi said through a Twitter post on Friday (January 15) that although the government is seriously after removal of the sanctions, efforts to foiling the sanctions have not been postponed due to the Vienna talks.

Reportedly, Iran and 4+1 resumed talks on November 29 in Vienna to work on the text and make effort to settle disagreements.

Once, Managing Director of National Iranian Oil Company Mohsen Khojasteh-Mehr stated that the country follows not just one but various marketing models for selling its crude oil and gas condensate.

As he underlined, broad activity in the area of marketing has increased selling.

Khojasteh-Mehr also referred to revival of some markets lost during the sanctions among reasons that have led to increasing oil exports.

Also, National Iranian Oil Company has made use of all capacities, including the private sector, to sell oil more and return the related income.

** Increase in China's oil imports from Iran

According to the report of global oil market's secondary sources, the number of tankers which transfer Iran's oil to China has grown during recent months.

Recently, New York-based Bloomberg news network has reported a 53-percent growth in Iran's and Venezuela's oil exports to China in 2021.

Although the United States has imposed oil and banking sanctions on Iran, conditions in the global oil market have made other countries ignore the sanctions to provide energy.

Also, those countries do so in order to stand against the high oil prices.

** What do experts say?

Hassan Moradi, a professor at University of Tehran, said that interaction with foreign customers, the new atmosphere in the talks, and the market's needs have been among the most important reasons of the boost in Iran's oil sale. 

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