|Iran Oil Show 2014 opens on Tuesday||
TEHRAN – The 19th International Oil, Gas, Refining, and Petrochemical Exhibition of Iran (Iran Oil Show 2014) will open in Tehran on Tuesday.
Over 1,200 Iranian companies and 600 foreign companies from 32 countries, including Austria, Belgium, China, France, Russia, the U.S., the UK, Japan, South Korea, Malaysia, Spain, the UAE, Turkey, India, Germany, and Italy, will participate in the exhibition.
Consultation companies, spare part manufacturers, technical and engineering service providers, oil processing equipment producers, fuel saving organizations, as well as research and development companies will showcase their latest achievements in the exhibition which will run until Friday.
On March 12, Iranian Oil Minister Bijan Namdar Zanganeh said Iran’s crude oil output is forecast to increase by about 200,000 barrels per day to 4 million barrels per day, and its daily natural gas output is forecast to increase by about 100 million cubic meters per day to 400 million cubic meters per day in the current Iranian calendar year 1393, which began on March 21.
The country is currently exporting about 1.2 million barrels per day and has earmarked 1.5 million barrels of daily sales in the national budget for the year 1393, which includes 300,000 barrels of condensates.
Iran's crude oil exports have surged to their highest in 20 months, far exceeding a 1 million barrel-per-day limit set by the West under an interim deal on limiting Tehran's nuclear program.
Under an interim deal signed in November between Iran and six world powers - known as the P5+1 - that came into effect on January 20, Iran's exports are supposed to be held to an average 1 million bpd through July 20.
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