Iran oil exports sets post-Shah revenue record
Tuesday, March 25, 2008 Free Headline Alerts
NICOSIA — Iran has reported record crude oil revenues over the last year. 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.
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.