Global energy report confirms rise in Iran crude output

An annual report published by the Energy Institute (EI) showed that Iran’s oil output, including production of crude oil, condensate and NGL, rose by 4.6% last year compared to 2021 to reach an average of 3.822 million barrels per day (bpd).

Figures in the report showed that Iran’s combined production of crude oil and condensate, which is a very light form of oil, rose by 129,000 bpd or 4.1% in 2022 from figures reported in the year before.

Iran’s output of natural gas liquids (NGL) also rose by an average of 40,000 bpd or 8.5% from 2021 to reach 509,000 bpd last year, said the report.

It said that fuel production in Iranian refineries rose by 2.2% year on year in 2022 to 2.397 million bpd while oil refining capacity in the country rose 2.3% to 2.67 million bpd over the same period.

Natural gas production in Iran reached 259.4 billion cubic meters last year, up 1.1% from 2021, showed EI figures.

As of 2023, the EI has taken over the publication of the Statistical Review of World Energy, a report that was published previously for more than 70 years by oil and gas supermajor bp.

The EI report confirms statements by Iranian government authorities in recent months suggesting that the country has managed to increase its production and exports of crude oil despite US sanctions that ban any international sales of Iranian oil shipments.

MNA/PressTV