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Iranian oil exports may decrease by 0.5 million barrels over US sanctions - NIOC

Gasoil News - Published on Thu, 12 Jul 2018

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Sputnik reported that Iranian oil exports may decrease by 500,000 barrels per day because of new US sanctions that are expected to come into force in the future, Mehr reported, citing data from the National Iranian Oil Company (NIOC). The country exported over 2.28 million barrels oil and over 330,000 barrels of natural-gas condensates per day in June, the Mehr news agency added, referring to the NIOC statistics.

According to the oil company, Washington's decision has not yet impacted the country’s oil exports.

The report echoes the statement made by Iranian Vice President Eshaq Jahangiri earlier in the day, vowing to boost oil sales, fighting against the US sanctions.

On May 8, US President Mr Donald Trump announced his decision to withdraw from the 2015 Joint Comprehensive Plan of Action (JCPOA), which requires Tehran to maintain a peaceful nuclear program in exchange for sanctions relief. Washington also decided to re-introduce restrictive measures against the Islamic Republic. Other parties to the agreement have not supported the US decision.

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Posted By : Nanda Koijam on Thu, 12 Jul 2018
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