Iran Plans To Increase Daily Oil, Gas Production To 4.5 Mln Bpd In 2021 - Reports

TEHRAN (UrduPoint News / Sputnik - 13th December, 2020) Iran is planning to produce 4.5 million barrels of oil and gas condensate every day in 2021, and roughly half of this volume will be exported, member of the Iranian parliament's budget planning commission Jafar Qaderi told state-run news agency IRNA.

According to the media outlet, Qaderi made this statement after a joint conference attended by Iranian Petroleum Minister Bijan Namdar Zangeneh who presented the ministry's plans for the new fiscal year that starts on March 21, 2021.

"The petroleum minister said that the total daily volume of oil and gas condensate production will reach 4.

5 million barrels, 2.2 million barrels of which was assigned in next year's budget for domestic consumption, and 2.3 million for export," Qaderi said.

On Wednesday, Iranian President Hassan Rouhani said that Iran was planning to sell over 2.3 million barrels of oil each day next year, despite the US recent sanctions that targeted Iran's petroleum ministry and the National Iranian Oil Company over financial support they allegedly provided to Iran's Islamic Revolutionary Guards Corps, which the US regards as a terrorist group.