Caspian Energy Journal Caspian European Club
Monday, 01 October 2018 15:00

Iran has potential for earning oil revenues in full

Iran has potential for earning oil revenues in full

Deputy Minister of Petroleum of the Islamic Republic of Iran Ali Kardar said late Sunday that there is no limitation on earning the entire oil revenues from exports, Iran’s oil revenues have increased by 40 percent compared to the figure for the year earlier, Caspian Energy News ( reports with reference to IRNA.

Ali Kardar, also Managing Director of National Iranian Oil Company (NIOC) Ali Kardar added on the sidelines of signing contract for building Jask crude storage tanks that there are various solutions for getting the oil revenues. Of course, transactions in the world are conducted through banking system not through banknotes, he said.

As to developing oilfields, he said that tenders have been offered for developing oilfields including Ahvaz oilfield.

Asked about cutting oil production, he said: “There is no plan for reducing oil production, as we will continue oil production seriously.”

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