TEHRAN, Nov. 28 (Mehr News Agency) - The managing director of the National Iranian Central Oil Company announced here on Wednesday that NICOC's oil output will touch 160,000 barrels per day (bpd) by the end of its current year (March 19, 2008).
Talking to MNA, Alireza Zeighami added that the hike means 15,000 more barrels when compared to the figure of last two months --145,000 barrels.
Shifting to gas output, he said that the NICOC will produce 295-300 million cubic meters of commodity by March 19.
He named exploitation of new projects the main reason for the growth.
He put the emphasis on privatization in country which would prepare the ground for Dutch companies to invest in the sector.
At the meet with the ambassador, Iran's Chamber of Commerce, Industries and Mines (ICCIM) head named the enforcement of the Article 44 of the Constitution and privatization the main means that helps promote his country's economy.
"Sanctions against Iran are ineffectual," Mohammad Nahavandian said, adding the country plays a great role in world's energy market, having 17 percent and 11 percent of world's gas and oil reserves respectively.
"It will not be to the advantage of Iran and Europe to sever their economic relations," the official warned.
... Payvand News - 11/28/07 ... --