Sunday, November 06, 2005

Iran oil income increases by 38%

Teheran, Nov 5 - Iran's oil and gas income since March 2005 has increased by 38 percent, the Iranian Central Bank announced Saturday.

According to the latest figures carried by the Fars News Agency, the revenues from oil and gas export have reached 19.871 billion dollars within the time period of March to July 2005.

There are predictions that Iran's oil revenues in the current Iranian year 1384 (March 21, 2005 to March 20, 2006) is expected to reach 43 billion dollars, over 10 billion more than in the previous year.


Iran's production capacity at the current phase stands at 4.2 million barrels per day (BPD) but the country hopes to raise it to over 4.5 million BPD once new oilfields are operational.

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