Iran reports record oil exports and rising gas supply in recent years

In the most recent year, Iran reported a remarkable surge in oil exports, marking a peak that has not been seen in four years. The announcement came from Javad Ouji, the country’s Oil Minister, as reported by Tasnim News Agency. According to Ouji, the nation achieved the highest oil export levels observed over the past four years. He noted that the country exported an additional 83 million barrels of oil in the current year compared with the previous year, signaling a substantial rise in external demand and sales efficiency. The minister elaborated that within a two year period, Iran managed to raise its oil export volume by about 190 million barrels, a substantial cumulative increase that underscored sustained momentum in the sector. In parallel, there was a notable improvement in natural gas supply, with a growth rate around 15 percent over a single year, reflecting gains in domestic production and international supply arrangements. On the export front, Hamid Hosseini, the official spokesperson for the Iranian Oil, Gas and Petrochemical Exporters Association, pointed out that Tehran earned about 26 billion dollars from oil sales to foreign markets during the March to September 2022 window. Earlier assessments from prominent financial outlets highlighted how the country had faced sanctions in the past and how certain shipping practices had evolved in response. A Financial Times report suggested that ships once used to move oil around sanctions barriers, often referred to in media as ghost tankers, had shifted to carrying crude from Russia after the price cap of sixty dollars per barrel was introduced. These developments illustrate how geopolitical dynamics and policy measures remain central to Iran’s energy export strategy, influencing revenue trajectories, trade routes, and the broader international energy market.