Supply & Demand

Iran threatens big rise in oil and gas output and exports

Iran has thrown down the gauntlet to its Gulf neighbours, saying it will dramatically boost its hydrocarbon production and exports by 2021 Iran has thrown down the gauntlet to its Gulf neighbours, saying it will dramatically boost its hydrocarbon production and exports by 2021.
By Peter Stewart 12 July 2017 0 26735
A platform at the South Pars field. (Statoil)

Iran’s deputy oil minister, Amir Hossein Zamaninia, said at the World Petroleum Congress in Istanbul this week that his country planned to ramp up gas production to nearly 1.37 billion cubic metres per day and oil production to around 5 million barrels per day (MMb/d) by 2021.

Zamaninia said Iran currently produces more than 800 million cubic metres per day (MMcm/d) of gas, equivalent to over 292 bcm/y, although its output in 2016 was estimated at 202 bcm/y by the BP Statistical Review of...