Lifting of sanctions Iran will need years rather than months to restore oil capacity.
The lifting of sanctions .. Iran will need years rather than months to restore oil capacity!
11/5/2015 0 Comments
According to a report that Iran's ambitions to restore the full capacity to export oil after the lifting of international sanctions imposed on it will take years and not months. Arab Petroleum Investments Corporation "APICORP" and predicted in a report, to add Iran to the market 400 000 barrels per day at the end of next year, and 300 000 barrels per day in 2017. It said it would increase Tehran's production to about 3.5 million barrels, and exports to two million barrels by 2017 . Iran was producing before the imposition of sanctions up to about 4 million barrels per day and exports about 2.5 million barrels per day. She said Iran's plans to restore its oil capacity will depend heavily on the international oil companies, and if the big oil fields and provide equipment. The Iran possesses the fourth largest oil reserves in the world of 158 billion barrels, the second largest inventory of gas in the world, making it a global leader in oil and gas reserves.