Figures from global oil and gas supermajor BP (British Petroleum) show that Iran managed to increase its oil production significantly last year despite US sanctions targeting the country’s crude oil exports.
Excerpts from the report, titled bp Statistical Review of World Energy 2022, were published by Iran’s official IRNA news agency on Sunday. The report showed that Iran’s oil production increased by 17.4% in 2021 compared to the previous year.
Tables published in the report estimate that Iran’s oil production averaged 3.62 million barrels per day (bpd) in 2021, compared to 3,084 reported in 2020.
The report said Iran’s increased crude oil production was a key driver of global oil production growth last year. Iran, with some 540,000 bpd of increased production, had one of the biggest shares of the world’s oil production increase in 2021 along with Libya and Canada, he said.
BP data, however, showed Iran’s domestic oil consumption remained nearly flat in 2021 at an average of 1.69 million bpd.
The figures confirm statements by Iranian officials suggesting that Iran has been pumping more oil to Asian markets since the second half of 2021.
Iranian oil exports to China are currently believed to be over 1 million bpd, according to estimates provided by global tanker tracking services.
BP data also showed that Iran’s production of natural gas liquids increased 27.1% last year from 2020 to an average of 450,000 bpd.
Figures from global oil and gas supermajor BP (British Petroleum) show that Iran managed to increase its oil production significantly last year despite US sanctions targeting the country’s crude oil exports.
Excerpts from the report, titled bp Statistical Review of World Energy 2022, were published by Iran’s official IRNA news agency on Sunday. The report showed that Iran’s oil production increased by 17.4% in 2021 compared to the previous year.
Tables published in the report estimate that Iran’s oil production averaged 3.62 million barrels per day (bpd) in 2021, compared to 3,084 reported in 2020.
The report said Iran’s increased crude oil production was a key driver of global oil production growth last year. Iran, with some 540,000 bpd of increased production, had one of the biggest shares of the world’s oil production increase in 2021 along with Libya and Canada, he said.
BP data, however, showed Iran’s domestic oil consumption remained nearly flat in 2021 at an average of 1.69 million bpd.
The figures confirm statements by Iranian officials suggesting that Iran has been pumping more oil to Asian markets since the second half of 2021.
Iranian oil exports to China are currently believed to be over 1 million bpd, according to estimates provided by global tanker tracking services.
BP data also showed that Iran’s production of natural gas liquids increased 27.1% last year from 2020 to an average of 450,000 bpd.