A ranking Iranian official said that Iran's oil revenues will be $16.1 billion in the next Iranian calendar year of 1383 (to start March 20), IRNA reported from Semnan.

Vice-Chairman of the Iranian Parliament's Commission for Planning and Budgeting Mohammadreza Khabbaz told IRNA that 4 million barrels of oil are produced daily in the country of which 1,800,000 are for domestic consumption.

Outlining the achievements of the 6th Majlis in economic arena, he referred to ratification of the law on absorbing foreign investments as one of the most significant achievements of the parliament and said it raised the volume of foreign investment contracts to over $5 billion.