News ID: 320907
Published: 0150 GMT April 10, 2022

Iran’s largest crude producer increases output by 600,000 bpd

Iran’s largest crude producer increases output by 600,000 bpd

The National Iranian South Oil Company (NISOC), which is the largest oil and gas company in the country in terms of output, said it has increased its production by nearly 600,000 barrels per day (bpd) compared to figures recorded in August 2021.

NISOC CEO Alireza Daneshi said that the companys output is currently near levels seen before the United States imposed its sanctions on Iran in 2018, Press TV reported.

The NISOC is a subsidiary of the state-run National Iranian Oil Company (NIOC). It controls many key onshore oilfields in southwest Iran. The company pumped more than three million bpd of oil before the US sanctions were imposed.

An Iranian administration that came to office in August has boasted about its ability to increase production and exports of crude despite continued US pressure on traditional customers of Iranian crude. 

Oil Ministry authorities said recently that crude production capacity had reached the pre-sanctions figure of more than 3.8 mbd.

That comes as reports suggest that Irans crude exports reached a three-year high of 1.5 million bpd late last year and stayed at that level in early 2022.

Experts say Iran could immediately add another 1 mbd of oil to the global supply if US sanctions are removed from the country.

Daneshi said that the company will be able to increase its output to beyond levels seen before the sanctions.

As soon as the government orders us, we will be able to swiftly return to pre-sanctions output figures and even go beyond that,” Daneshi was quoted as saying by IRNA.

 

   
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