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Iran's Crude Oil Revenues Stand 56.3 Billion Dollasr in Three Years

Iran's exports of crude oil in the first three years of the Third Five-Year National Development Plan (2000-2005) amounted to 56.3 billion dollars, IRNA reported from Tehran on Saturday quoting the local press.

The Persian-language daily 'Aftab-e Yazd' wrote that the revenues were 61 percent above the target stipulated in the plan, and indicated an average annual growth rate of 9.6 percent.

'Aftab-e Yazd' added that Iran's average crude exports during the period stood at 2.1 million bpd which was 89 percent of the target specified in the plan.

It stressed that Iran's oil export index in the three-year period had indicated a growth of 0.5 percent compared to the figure for the Iranian year of 1378 (ended March 21, 2000).

The daily further wrote that Iran's oil exports based on buy-back deals stood at 88,300 bpd, stressing this figure was only 55 percent of the target set in the plan.

It added that this was because of a decline in foreign investment in Iran's oil sector as well as the delay in implementing oil projects.

... Payvand News - 11/1/03 ... --

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