Iran s National South Oil Company hiked oil output by 30 pc over past 6 months uniindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from uniindia.com Daily Mail and Mail on Sunday newspapers.
The National Iranian Drilling Company has completed 117 oil and gas wells by drilling 85,616 meters during the past year. According to the National Iranian.
Iran begins boosting oil output to reach pre-sanction level
Iran’s Deputy Oil Minister Amir Hossein Zamaninia said the country has started boosting its oil production and will be able to reach pre-sanction levels within two months.
Iranian oil won’t create any surplus in the oil market and the market will be able to accommodate the country’s maximum oil output of around 3.9 million to four million barrels a day, Bloomberg quoted Zamaninia as saying on the sidelines of Iran Oil Show in Tehran.
As reported, Iran has currently curbed its oil production to less than half of its total capacity due to the problems that the country is facing for its oil exports since the re-imposition of the U.S. sanctions.