Iran’s H1 oil revenues 16% more than budget estimates

September 26, 2018

TEHRAN - Iran’s oil incomes during the first half of the current Iranian calendar year (March 21-September 22) exceeded the estimations in the country’s budget plans by 16 percent, IRNA reported on Wednesday quoting the head of Budget and Planning Organization.

According to Mohammad-Baqer Nobakht, the country’s H1 oil revenues increased 61 percent compared to the figure for the last year’s same period.

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 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.

EF/MA

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