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Iran's energy production up 11% in 2003

London, June 16, IRNA -- Iran's combined oil and gas production rose by 11 percent to 262.2 million tons oil equivalent (toes) last year, according to BP's latest annual Statistical Review.

Oil output increased by 12.6 percent from 168.8 m toes in 2002 to 190 m toes, while gas production grew by 5.3 percent to 71.1 m toes from 67.5 m toes.

Gas production now represents over 27 percent of Iran's energy production, closing the gap with oil. In 1993, the country's gas output was 24.4 m tons, less than 12 percent of energy production.

The Statistical Review also showed that domestic consumption of gas continued to grow in Iran last year by 1.1 m toes to 72.4 m toes, widening the gap over oil to 18.4 m toes after first overtaking oil to become the country's primary energy fuel in 2000.

The increase in gas consumption was aided by Iran importing 4.4 m toes from Turkmenistan (the same amount as in 2002), while exporting 3.2 m toes to Turkey, (up from 0.2 m toes in 2002).

Other primary energy sources in Iran included 0.8 m toes of coal, the same since 2001, and 1.8 m toes of hydro-electricity, up from 1.1 m toes in 2002. Iran was confirmed after Russia to have the second largest proved global reserves of gas, estimated at 23 trillion cubic meters and equivalent to 15.2 percent of the world's total. But in terms of global supply, Iran's production is just 3 percent of the total.

The wide-ranging statistics also showed that Iran's oil refining capacity was 1.494 m barrel per day in 2002, up by 10,000 barrels. The capacity is the second highest in the Middle East after Saudi Arabia's 1.911 m barrels.

... Payvand News - 6/16/04 ... --

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