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Iran's oil output to hit 4.2 mbpd

Press TV - Iran's crude oil output will rise to 4.2 million barrels per day by the end of its current year (March 19, 2008), an official says.

"According to Iran's fourth Five-Year Development Plan, the country needs to increase its crude oil output," Head of the Production Affairs of the National Iranian Oil Company (NIOC) Mohammad-Javad Assemipour said.

"By 2010, Iran's oil output should increase to 4.5 million barrels per day, but it seems we will achieve the goal much earlier than the end of the plan," SHANA news agency quoted Assemipour as saying.

Platts, the world's leading provider of energy information, said in its latest report that Iran's daily production of crude oil in November was more than 3.950 million barrels, up by 50,000 barrels from the preceding month.

... Payvand News - 01/03/08 ... --

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