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Iran's oil revenues for 1st half of the year to reach USD 29B: official

Tehran, Sept 11, IRNA-Oil income for the first half of the current Iranian year (started March 20, 2006) is expected to reach USD 29 billion, an official of the National Iranian Oil Company (NIOC) said Monday.

Speaking to reporters, NIOC Director for International Affairs Hojjatollah Ghanimifard forecast Iran's income from oil exports to reach USD 40-41 billion by the end of the third quarter of the current Christian year.

According to the official, the price of Iranian crude reached its lowest of USD 60.40 and its highest of 66.10 a barrel during the period March 20-September 21.

Ghanimifard also forecast Iran's income from oil products to reach USD 2.7b by the end of the first half of the current Iranian calendar year (March 20-Sept 21).

He forecast world oil demand would reach about 86,000,000 barrels per day during the last quarter of the current Christian year, adding that demand would be 1,600,000 barrels per day more than the current summer season's demand.

Although global oil prices have declined in the past two weeks, Ghanimifard forecast an upward trend in oil prices, but said the Organization of Petroleum Exporting Countries (OPEC) had no plans of reducing its current production since world demand is again expected to rise with the arrival of autumn and winter.

... Payvand News - 9/11/06 ... --

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