BAKU, Azerbaijan, November 5. Iran's crude oil and gas condensate exports totaled $27 billion during the seven months of the current Iranian year (from March 20 through October 21, 2024), the country's Deputy Minister of Economy and Finance, Director General of Customs Administration Mohammad Rezvanifar told reporters, Trend reports.
The official said that during the reporting period Iran exported 37,9 million tons of petrochemical products worth $15.2 billion abroad, up 24 percent in value and 23 percent in weight compared to the same period in 2023 (from March 21 through October 22).
However, Iran cannot freely export the mentioned products due to the sanctions imposed by the US and Western countries. Therefore, the export of non-oil products holds great importance.
The value of Iran's crude oil exports last Iranian year (from March 21, 2023, through March 19, 2024) amounted to approximately $35.9 billion.
At present, Iran is in the driver's seat with 74 oil fields and 22 gas fields under its belt. The National Iranian South Oil Company is occupied with 37 fields, while the National Iranian Central Oil Company is closely monitoring 14. The Arvand Oil and Gas Company is actively managing five fields, while the Offshore Oil Company is successfully managing 18 fields.
Additionally, gas fields include 5 managed by the National Iranian South Oil Company, 13 by the National Iranian Central Oil Company, one by Pars Oil and Gas Company, and three by the Offshore Oil Company.
Iran's treasure trove of hydrocarbon reserves stands at a whopping 1.2 trillion barrels, with 340 billion barrels ripe for the picking using today's technology. Only about 30 percent of the country's hydrocarbon reserves are currently accessible, with the remaining 70 percent lying underground.
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