Publishe Date: 8:08 PM - 8/12/2013 | Print

OPEC Governor: Iran’s Crude Oil Exports Exceeding Envisaged Figures

Economy - Iran’s OPEC Governor Mohammad Ali Khatibi underlined ineffectiveness of the US-led sanctions against Tehran, and said Iran's crude export has exceeded the figures envisioned in the country’s budget bill.

“I should emphasize that the value of Iran’s exports of oil, condensates and oil products is higher than the figures envisaged in the budget bill …,” Khatibi said.

Earlier this year, Iranian Oil Minister Rostam Qassemi underlined that Iran is still the second largest crude producer in the Organization of Petroleum Exporting Countries (OPEC).

Qassemi's remarks came after some western media outlets claimed that Iran has declined to the fifth rank in the oil cartel.

“Iran remains the second largest oil producer of OPEC right behind Saudi Arabia,” the Iranian oil minister said, addressing the 10th International Petrochemical Industry Conference in Tehran.

“We do not confirm a fall in Iran's oil production and this is quite untrue,” Qassemi added.

OPEC is an intergovernmental organization that was created at the Baghdad Conference in September 1960, by Iran, Kuwait, Iraq, Saudi Arabia and Venezuela. Later it was joined by nine more members, including Libya, United Arab Emirates, Qatar, Indonesia, Algeria, Nigeria, Ecuador, Angola, and Gabon.

OPEC was headquartered in Geneva, Switzerland before moving to Vienna, Austria, in September 1965.


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