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Iranian Oil minister: Country's oil revenues up to $51B

Tehran, April 30, IRNA - Oil Minister Kazem Vaziri-Hamaneh said on Monday that the revenues from oil exports reached dlrs 51.3 billion in the last Iranian calendar year (ended March 20).

Vaziri-Hamaneh made the remarks while addressing the 9th meeting of senior managers of the oil industry, adding that the figure showed an increase of dlrs 7.4 billion compared to the figure for previous year.

"Iran exported more than 2.4 million barrels of oil per day (bpd) for the first time last year," he noted.

Referring to the agreements inked during the term of the ninth government in the oil sector, he said that Iran has signed new oil agreements valued at dlrs 37.9 billion.

"All final agreements have been inked, and taking into account other memoranda of understanding, the aforementioned figure will definitely increase to over dlrs 100 billion," he said.

Turning to the dlrs 7.3 billion investments in upstream sector of oil industry, he said, "Despite all international sanctions and pressures on Iran, investments in the South Pars gas field increased by 38 percent."

He referred to the provincial visits of the cabinet last year, adding that the administration assigned the Oil Ministry to implement more than 280 projects in sports, educational, medical and services sectors.

The minister said, "It is not acceptable that those residing in urban and rural areas adjacent to rich oil fields live under poverty line."

The amount of domestically-made goods purchased for the oil industry has increased by more than 10 percent compared to the figure or previous years, he added.

Vaziri-Hamaneh noted that the ministry purchased rls 41,000 billion worth of equipment from domestic industrialists and producers.

Given new decisions taken to use domestically-made equipment, the oil industry has managed to expedite development process, therefore, domestic producers could show their ability to increase production in the 12th International Exhibition on Oil, Gas and Petrochemical Industries.

He expressed hope that Iran would be able to provide domestic requirement in this sector and turn into an exporter of equipment and parts required in oil industry.

... Payvand News - 5/1/07 ...

... Payvand News - 5/1/07 ... --

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