Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: For the first time, Prime Minister Netanyahu is signaling that he wants to end the war on Gaza
Israeli Channel 12, citing an American source: We want to have entered a path toward captive release and a ceasefire before Netanyahu arrives in Washington
Lebanese Ministry of Health: One martyr and two injured in the Israeli airstrike that targeted a motorcycle in the town of Mahrouna
Al Mayadeen correspondent to Southern Lebanon: An Israeli drone strike targeted a vehicle between the towns of Jwayya and Mahrouna.
Al Mayadeen's correspondent in South Lebanon: One martyred in the Israeli drone strike on a car in the town of Kawnin
Al Mayadeen's correspondent in South Lebanon: Israeli drone targets a car in the town of Kawnin
Naeini: If our national interests are attacked again, our response this time will be stronger and more destructive
Naeini: The war has proven that the settlers are defenseless against Iranian missile and drone forces
Naeini: Trump lacks an understanding of the true strength of the Iranian people and is so deluded as to believe he can change the reality of Iran's victory
Naeini: The defeat led to Trump's confusion and loss of balance, which was reflected in his ill-considered statements

In defiance of sanctions, Iran's oil exports on the rise: Minister

  • By Al Mayadeen English
  • Source: News Websites
  • 24 Jun 2023 20:17
  • 1 Shares
3 Min Read

Javad Owji says the expansion of energy diplomacy and connections with Asian, African, and Latin American nations has assisted Iran in creating new markets for exporting its oil.

  • x
  • Iran's oil exports increasing despite sanctions: Minister
    Iranian oil minister Javad Owji (AFP)

In an interview for IRNA on Friday, Iran’s oil minister Javad Owji disclosed that energy diplomacy with Asian, African, and Latin American countries helped Iran expand its oil market and promised that great news on oil sales is soon expected. 

According to the Minister, Iran's oil exports increased to 1.9 million barrels per day (bpd) in May, citing President Ebrahim Raisi.

In early June, Owji stated that those who imposed sanctions on Iran believed they could stymie Iran's growth and advancement by using the terroristic weapon of sanctions, despite the fact that it is a double-edged sword with which they must contend.

Owji added that foreign agencies that monitor the countries' oil exports have recorded an increase in Iran's output and exports.

Read more: Iran discusses energy issues with Bulgaria and Romania

Last week, Reuters released a report detailing that Iran's crude exports and oil output will reach new heights in 2023 despite US sanctions, contributing to world supply at a time when other producers are cutting output.

Related News

Araghchi warns of strong Iranian response as E3 pushes IAEA resolution

Iran denounces Western pressure on IAEA, vows response to resolution

Tehran's oil exports have been restricted since former US President Donald Trump abandoned a 2015 nuclear deal and reimposed sanctions aimed at limiting oil exports and the related revenue to Iran's government in 2018.

Nonetheless, exports have increased during the presidency of his successor, Joe Biden, according to the research.

According to Kpler, a flow data company, Iranian oil exports hit 1.5 million barrels per day (bpd) in May, the highest monthly rate since 2018. Prior to the United States' exit from the nuclear accord in 2018, they were at about 2.5 million bpd.

The International Energy Agency estimated Iran's May output at 2.87 million bpd, which is close to the country's official figure.

The hike from Iran comes as OPEC+, which comprises OPEC, Russia, and other partners, is limiting supply to stabilize the oil market, where fears of economic weakness have pushed up prices.

According to some observers, Iran's production and exports have increased. According to SVB International, petroleum output reached 3.04 million bpd in May, up from 2.66 million bpd in January. In May, oil and condensate exports totaled 1.93 million bpd.

Before the 13th (current) government took office in early August 2021, Iran had 87 million barrels of gas condensates in storage offshore and onshore, according to Owji, who described the situation as an Achilles' heel since they were difficult to sell.

The 13th administration, on the other hand, sold the stockpiled gas condensates and is now selling about 800 barrels generated per day despite the harshest penalties, he concluded.

  • Iran
  • Iran oil
  • Sanctions on Iran
  • Javad Owgi

Most Read

Iranian President Masoud Pezeshkian attends a protest following the US attacks on nuclear sites in Iran, in Tehran, Iran, Sunday, June 22, 2025. (AP)

Iran declares victory as ceasefire forces Israeli retreat

  • Politics
  • 24 Jun 2025
Israeli workers survey the site where a missile launched from Iran struck in Haifa on Sunday, June 22, 2025. (AP)

True Promise 3, wave 20: 40 missiles launched, Kheibar-Shekan in first

  • Politics
  • 22 Jun 2025
Iran launches strikes on Israeli targets, despite alleged ceasefire

Iran victorious as ceasefire with 'Israel' takes effect

  • Politics
  • 24 Jun 2025
Iranian worshippers carry their country's flags in a protest to condemn Israeli attacks on multiple cities across Iran, after the Friday prayers ceremony in Tehran, Iran, Friday, June 20, 2025. (AP)

Iran warns of NPT withdrawal, Strait of Hormuz closure after US attack

  • Politics
  • 22 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
In this June, 12, 2021, file photo, former Secretary of Iran's Supreme National Security Council Ali Shamkhani sits in a meeting in Tehran, Iran.
Politics

Iran strategically foiled Israeli-US scheme, Advisor Shamkhani says

Sheikh Naim
MENA

Let no one think they can subjugate Hezbollah: Sheikh Qassem

Screengrab from a video published by the al-Qassam Brigades shows confrontations with the Israeli occupation forces in Gaza, undated (Al-Qassam Brigades Military Media)
Politics

Al-Qassam releases video of deadly ambush with Israeli forces in Gaza

International Atomic Energy Agency (IAEA) Director General, Rafael Grossi, attends an IAEA Board of Governors meeting in Vienna, Austria, Monday, June 23, 2025 (AP)
Politics

Iran bars IAEA chief Grossi from nuclear facility inspections

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS