[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]I[/dropcap]ranian Deputy Oil Minister Rokneddin Javadi made an announcement on Sunday that his country has increased its oil production by 400,000 barrels per day after the international sanctions against the Islamic Republic were lifted. He also added that they will increase another 200,000 barrels per day.
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Javadi also revealed that Iran has sent its first crude oil shipment to Europe in five years. Four million barrels were exported to a refinery in Spain as well as the Total French company and the Russian Lukoil company.
According to Fars news agency, Iran is selling its oil to Europe at a discount and at a lower price than that offered by Saudi Arabia.
Increasing oil exports is the main objective of the Iranian ministry of petroleum since the implementation of the nuclear agreement reached with the P5+1 countries (the US, France, China, Britain, Russia and Germany).
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