NICOSIA — Iran has reported record crude oil revenues over the last
Iranian Oil Minister Gholam Hossein Nozari said Iran earned $70 billion
from crude oil exports from March 2007 to March 2008. Nozari said the figure
marked a new export record.
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Before the 1979 Islamic revolution, Iran was producing six million
barrels per day.
Teheran has been battling an aging oil infrastructure amid
difficulties in obtaining foreign investment.
In an interview with Iranian state television on March 17, Nozari said
oil production hit 4.21 million barrels per day, the highest level since
1979. He said about 2.5 million barrels per day of the oil was exported.