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| Iran still OPEC’s second largest producer, Khatibi says |
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 The Organization of Petroleum Countries ranks members based on their output, not exports, and Iran is still the second largest producer in the organization, Iran’s OPEC governor Mohammad Ali Khatibi told Mehr news agency on Saturday.The Organization of Petroleum Exporting Countries' Annual Statistical Bulletin has put Nigeria ahead of Iran in terms of exports volume. This action is faced with surprising reactions of oil experts. Khatibi said Iranian experts had found ambiguities in some of the figures in the OPEC report and thus the experts "did not confirm Nigeria's export increase". The report claimed that Nigeria’s oil export reached 2.4 million barrels per day (mb/d) in 2010 and surpassed Iran’s oil export. “The figure is very surprising, how can Nigeria export 2.4 mb/d while its oil output is only 2 mb/d”, khatibi added. "In the report Iran's oil income exceeds that of Nigeria in 2010. Then how would it be possible for Nigeria's oil income to be less than that of Iran despite having boosted its exports?" Khatibi said it was predictable that Venezuela would overtake Saudi Arabia since in the past two years it had taken measures to boost its reserves. OPEC's growth in oil reserves was mainly due to Venezuela, whose holdings rose to 296.5 billion barrels from 211.2 billion in 2009, as the report said. Top OPEC exporter Saudi Arabia's reserves were steady at 264.5 billion barrels. Iran and Iraq also boosted their reserves last year. In October, Iran increased its reserves to 150 billion barrels within a week of an upward revision by Iraq, ensuring that Tehran continued to rank above Baghdad. Reserves are one of the criteria OPEC has used in setting output targets. OPEC's 12 members pump more than a third of the world's oil.   Socialize this Subscribe to our RSS feed to stay in touch and receive all of TT updates right in your feed reader
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