Deputy Minister: Iran Ups Oil Exports by 1.5mln bpd despite US Sanctions

Safayee, also the director-general of the Iranian Ports and Maritime Organization (PMO), made the remarks while visiting projects in Bushehr province in Southern Iran.

“Fortunately, with the very good measures taken after the recent visits of the President to the regional countries and the resulting breakthroughs that were created, we have had good growth in exports and imports, and in Bushehr port, we see 22% growth compared to last year, which promises a boom in maritime activities,” he said.

Safayee also noted that in the field of oil activities, crude oil exports have exceeded 1.5 million barrels per day (bpd), adding that, Bushehr ports are supporting these activities to continue the exports of petroleum products and crude oil in the best way.

Earlier, Iranian Oil Minister Javad Owji said that the country will not wait for the results of the Vienna talks on the removal of the sanctions, adding that over $4.5 billion worth of contracts have been concluded with both domestic and international companies to invest in the development of gas and oil fields.

In the future, a contract will be concluded with a consortium of banks to develop one of the massive gas and oil fields, he said.

Iran’s oil exports increased to 1.2mln bpd in January, a clear indication of the failure of the US harsh sanctions against the country.

Reuters news agency in a report in February cited figures by oil industry consultants and analysts, showing that Iranian crude exports started to surge in December and have continued to date.

The data suggested that most of Iranian oil shipments have gone to China as individual and private buyers in the country continue to defy illegal sanctions imposed by the US on Iran since 2018 when Washington pulled out of an international deal on Iran’s nuclear program known as the JCPOA.

An unidentified source told Reuters that Iranian oil exports in January rose to its peak in US sanctions era to 1.2 million bpd.