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Iran increases oil export up to 8.7 billion tons in five months

The country’s government is eager to get back to its pre-sanctions oil export capacities.

12.Sep.16 3:38 AM
By Alesya Davydova


Iran increases oil export up to 8.7 billion tons in five months

Since March 2016 Iran has increased its crude oil and oil products exports to the international markets up to 8.7 billion tons which is equal to US$3.6 billion, the local news agency IRNA reports.

The media explains that the increase in petrochemical products export came following the implementation of last year’s nuclear agreement which is also known as the Joint Comprehensive Plan of Action (JCPOA). The document has also led to easing the western sanctions upon the country as well as banking restrictions.

Moreover, Islamic Republic News Agency informs that Iran has resumed its petrochemical products and polypropylene supplies to Great Britain. Besides, such countries as Romania, Bulgaria, Italy and France have also shown their interest in setting business relations with Iranian oil producing companies.

Last week National Iranian Oil Company stated that the country is not ready to support OPEC’s decision to freeze the output until it reaches the pre-sanctions levels of oil production. Iran expects to get back to the 4 million bpd by the end of the year.

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