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Iran sells $19.6B crude oil and gas condensates in 10 months

Business Materials 25 February 2015 17:18 (UTC +04:00)

Baku, Azerbaijan, Feb. 25

By Fatih Karimov - Trend: Iran sold 529 trillion rials (about $19.6 billion) of crude oil and gas condensates in the first 10 months of the current Iranian fiscal year, which began on March 21, 2014.

Iran's Treasurer General Rahmatollah Akrami said the income was 81.7 percent of the figure projected in the national budget, Iran's Mehr news agency reported on Feb. 25.

Compared to the corresponding figure in the same period last year, the figure rose by 26.9 percent, he said.

The administration's general revenues hit 724 trillion rials (about $26.8 billion) in the 10-month period, a 43.8 percent rise year on year, he added.

He also said that tax revenues amounted to 540 trillion rials (about $20 billion), a 50.1 percent rise year on year. The tax income was 92.3 percent of the figure projected in the national budget, he noted.

The Iranian Oil Ministry's official Facebook page released a report Jan.5, indicating that the country's current oil export, including the gas condensate is about 1.4 million to 1.5 million barrels per day.

Iran exported about 1.1 million barrels of crude oil and 400,000 barrels of gas condensate during 2014.

Before imposition of western sanctions on Iran, the country was exporting about 270,000 barrels per day (bpd) of gas condensate. This figure plunged to around 170,000 bpd in mid- 2013, but suddenly rose after Iran and P5+1 reached an interim nuclear accord.

Edited by CN

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