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In 2010, Iran, which exports around 2.6 million barrels of crude oil a day, was the second-largest exporter among the Organization of Petroleum Exporting Countries. [37] Several major emerging economies depend on Iranian oil: 10% of South Korea's oil imports come from Iran, 9% of India's and 6% of China's. [17]
Apart from these considerable reserves, from the outset of oil industry in Iran in 1908 to the end of 2007, Iran produced some 61 billion barrels of oil. [2] Iran has more than a century of history in exploration and production; the first successful exploration well was Masjid Suleiman-1 on May 26, 1908. Since then, based on the latest oil and ...
As of 2010, NIORDC had 19 subsidiaries and affiliated companies, including 9 oil existing refineries. [1] Between 2007 and 2012, oil refining capacity for crude oil and gas condensate would increase from 1,600,000 barrels per day (250,000 m 3 /d) to 3,300,000 barrels per day (520,000 m 3 /d). [ 2 ]
Its average gas and condensate production 48 million cubic meters per day and 29.2 thousand barrels per day, respectively. Maximum gas and condensate production of the company in 1388(2009–2010) stood at 58 million cubic meters per day and 33 thousand barrels per day, respectively. Gas production capacity of the company is 61mcm/d. [7]
Oil prices tumbled more than 4% on Tuesday as supply fears faded after a Washington Post report signaled Israel would avoid targeting Iran’s petroleum production.
The U.S. government has said it wants to isolate Iran from the global economy and eliminate its oil export revenues in order to slow Iran's development of a nuclear weapon.
Iran has the second largest oil reserves in the world, and the third largest exporter of it. [citation needed] By the end of 2009, Iranian oil R/P ratio was 89.4 years which is the world's highest. [29] By 2009, Iran had 52 active rigs and 1,853 producing oil wells. [30] Iran possesses abundant fuels from which to generate energy.
A senior official at Kurdistan's natural resources ministry said oil production in the region was running at 375,000 bpd, of which 200,000 was trucked to Iran and Turkey, and the rest refined locally.