Pars Today's Iran and world news package
Spectacular rise in Iran's oil export; minister informs of 150,000-barrel growth of daily production
Pars Today- The Iranian oil minister spoke of the increase of oil and gas production and said, "Iran's oil export is in the highest possible level in spite of sanctions."
According to Pars Today, quoting from Fars news agency, Iran's Oil Minister, Mohsen Paknezhad, speaking at the inauguration of the 29th Show of Oil, Gas, Refining and Petrochemicals in Tehran, informed of the growth of 150 thousand barrels in oil production and 30 million cubic meters of gas per day.
Paknezhad, referring to the growth of 8 million liters in gasoline production per day, added, "Iran enjoys the highest level of crude oil export despite cruel sanctions."
Mega-projects of oil industry development
Iran's oil minister informed of the planning for completion of 30 prioritized oil and gas projects with an investment of $10 billion till the end of the current Iranian year (late March, 2025). He said that once these projects are put into practice, 250,000 barrels of oil and 30 million cubic meters of gas will be added to the daily production of the country. Paknezhad, announcing that the execution of quality upgrading plans will increase the capacity of the refineries to 180,000 barrels per day, stressed, "The oil and gas industries will be the engine of economy in the country in the 7th Development Plan."
Capital attraction and energy diplomacy
The Iranian oil minister pointed to holding of the Iran-Russia joint energy commission and said, "The cooperation contracts have been concluded between the companies of the two countries. Besides, the execution of Turkmenistan's gas swap deal via Iran to Turkey will turn Iran into the energy hub of the region."
The 29th Iran Show of Oil, Gas, Refining and Petrochemicals is the greatest exhibition of this industry which was inaugurated in Tehran on Thursday, May 8, 2025 with oil minister and directors of oil companies in attendance.
Iran's oil industry has always been in the global focus as one of the major players of energy sector in the world. The Islamic Republic of Iran is one of the greatest owners of oil and gas reserves in the world. That's why, many global activists, experts and investors of these fields are interested in cooperating with the country and, no doubt, the fate of the world energy is partly determined by Iran. The oil industry has also drawn the attention of the people and statesmen as a major basis of economic development.
RM/UR
