The top economic adviser to the Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei said the oil output in the country should meet a target of 8.5 million barrels per day (mbd) in several years’ time despite efforts to reduce the direct sales of crude in order to minimize the impacts of foreign sanctions.
A sum of 22 major industrial and mineral units registered growth in their production during the first five months of the current Iranian year (March 20-August 21) in comparison with the same period last year, said deputy industry minister.
Azar oilfield is on the verge of hitting a production capacity of 65,000 barrels of oil per day by using the ancillary facilities of the Central Processing Facility (CPF), an energy official announced.
Chief of the Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi said the country has begun to build a hall near its Natanz nuclear site to replace a production hall at the facility which was damaged by an explosion in July.
Iran produced 115,983 tons of tires during the first five months of the current calendar year (March 20-August 21, 2020), registering a 27 percent growth compared to the figure for the same period last year.
The world's five largest oil companies collectively cut the value of their assets by nearly $50 billion in the second quarter, and slashed production rates as the coronavirus pandemic caused a drastic fall in fuel prices and demand.