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Majority of OPEC oil passes through Strait of Hormoz

TEHRAN, Jan. 20 (Mehr News Agency) - Majority of the oil produced by the Organization of Petroleum Exporting Countries (OPEC) passes through Strait of Hormoz, the managing director of the National Iranian Oil Company (NIOC) said here on Saturday.

"OPEC produces 30 million barrels per day (bpd) of crude oil oh which 24 million bpd passes the Strait of Hormoz," Gholam-Hossein Nozari told the Mehr News Agency.

Therefore, he added, Iran possesses an important position as far as geographic and energy issues are concerned.

Iran is located between two energy-rich regions, the Persian Gulf and Caspian Sea. Moreover, it is among countries with rich oil and gas resources, the official continued.

"Iran is the best route for oil transit for the Caspian Sea littoral states, and it can be regarded as the main energy way for the Central Asian states," Nozari noted.

... Payvand News - 1/20/07 ... --

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