Iran’s oil revenues rose 59%

DHAKA: Iran’s revenues from export of crude and oil products jumped 59 percent in 2011, despite a mounting pressure on the country by Western sanctions, the Organization of Petroleum Exporting Countries (OPEC) says.

Iran exported crude and petroleum products valued at $114.8 billion compared with $72.2 billion in the previous year, data from the annual statistical bulletin of OPEC showed.

Iran’s revenue increased even as the volume of the nation’s shipments fell 8.5 percent, according to OPEC, reports Tehran Times.

According to the report, the value of Iran’s exports has more than doubled since 2009.

The value of the country’s petroleum and oil products exports stood at $55.7 billion in 2009, increasing to $114.8 billion in 2011.

Excluding petroleum products, Iran’s revenue from exports of crude oil in 2011 also increased around 59 percent compared with the previous year. Iran exported $83 billion worth of crude oil in 2011, in comparison to $52 billion in 2010, the report stated.

OPEC’s Annual Statistical Bulletin (ASB), released on Monday, contains about 100 pages of tables, charts and graphs detailing the world’s oil and gas reserves, crude oil and product output, exports, refining, tankers, plus economic and other data.

BDST: 2028 HRS, JUL 18, 2012

Edited by Robab Rosan, Cultural Affairs Editor