Monday 29 August 2011

Iran's 5-month oil revenues hits $40bn

Iran has gained about USD 40 billion from the export of crude in the first five months of the current Iranian calendar year (started March 21), a report says.

Despite the recent fluctuations in the global oil prices, Iran's crude is now traded above USD 100 per barrel, Mehr news agency said on Sunday.

Currently, the country's average daily crude exports stands at 2.257 million barrels, and the figure may increase in the coming weeks, the report added.

Earlier in July, the International Monetary Fund (IMF) reported that the total oil revenues of the member states of OPEC would surpass one trillion dollars in 2011 and Iran would earn about USD 100 billion of that sum.

Iran is ranked third in terms of proven oil reserves and is OPEC's second-largest oil producer after Saudi Arabia.

Iran's revenue from oil exports reached USD 69.1 billion in 2009 by exporting approximately 3.8 million barrels per day./-

Source: Iran Independent News Service




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