Deputy Minister of Industry, Mines and Trade Mojtaba Khosro-Taj said on Sunday that if Petroleum Ministry fulfills its promise to raise oil output by 500,000 bpd, Iran’s oil revenues will rise to $14 billion next year.
He said that with the current 1m bpd output, if the oil prices reduce to lower than 30 d/b and Iran will have to sell its crude oil for 25 d/b, the country’s annual oil revenues will reach dlrs nine billion.
