Iran’s 4-month oil revenue up over 60% yr/yr

September 12, 2018

TEHRAN – Iran’s revenues from crude oil and oil products exports reached 419 trillion rials (about $9.98 billion) in the first four months of the current Iranian calendar year (March 21-July 22, 2018) up 60.7 percent compared to its preceding year’s same period.

The country’s crude oil sales reached 348.9 trillion rials (about $8.3 billion) in the mentioned time span while the figure stood at 189 trillion rials (about $4.5 billion) in the preceding year, IRNA reported on Tuesday.

The crude oil exports increased by a record high of 84.2 percent in the mentioned four months compared to the same period last year.

As reported, the recent increases in oil prices was one of the main drivers of this jump in the country’s oil revenues added up by incomes from tax and duties.

According to Shana, during the first four months of the current Iranian calendar year the country has exported 2.3 million barrels of crude oil and gas condensate on average on a daily basis.

China, India, Japan and South Korea are among the country’s main crude importers shipping in 60 percent of Iran’s total oil exports. The other 40 percent of the country’s crude exports heads to the European buyers.

EF/MA

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