Iran to raise oil export by 2010

July 11th, 2008 - 2:29 pm ICT by IANS  

Tehran, July 11 (Xinhua) Iran will raise oil export to 3.5 million barrels a day by the end of March 2010, Press TV reported Friday quoting oil minister Gholam-Hossein Nozari. “Iran’s oil export level will be raised to 3.5 million barrels a day from the current 2.4 million barrels by the end of the current development plan in March 2010,” Nozari told reporters Thursday.

He refuted reports that the country would not be able to export oil because of high domestic consumption.

Asked about the recent decision by the Organisation of the Petroleum Exporting Countries (OPEC) to keep the current production level, Nozari said the market is supplied with enough crude but consumers should increase investment in the producer countries to help them boost oil production.

Iran announced in May that it would boost the oil output to 4.3 million barrels per day by the end of March 2009.

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