Iran’s 4-year oil revenues reach $157B

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Iran’s oil revenues from March 2013 to March 2017, which covers Hassan Rouhani’s presidency, have reached $157 billion, said Mohammad Bagher Nobakht, head of Management and Planning Organization of Iran, Fars news agency reported Apr. 24.

He said the volume was $251 billion from March 2009 to March 2013, which covers the second term of Mahmoud Ahmadinejad’s presidency.

He added that the oil price plunged from $104 to $44 during last four years.

Before imposition of sanctions on Iran in 2012, the country was exporting 2.5 million barrels per day (mb/d) of oil and gas condensate, but the figure halved due to the sanctions.

The sanctions on Iran were removed in January 2016, which led to an increase in oil and gas exports to 2.65 mb/d, but the oil price last year was over two times less than in 2012.

According to OPEC’s annual statistics, Iran’s total oil export revenue in 2015 was $27.3 billion, compared to $53.652 billion in 2014, about $61.923 billion in 2013 and $101.468 billion in 2012.

The figure for 2011 was $114.751 billion.