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→Oil production and reserves
The Islamic Republic’s oil production capacity currently stands at about 3.2 million barrels of crude per day (bpd), which makes Tehran the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC) after Saudi Arabia and Iraq. The Iranian government earlier this year made it clear it has a plan to boost oil production to 4 million barrels per day in the near future.
The Islamic Republic’s oil production capacity currently stands at about 3.2 million barrels of crude per day (bpd), which makes Tehran the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC) after Saudi Arabia and Iraq. The Iranian government earlier this year made it clear it has a plan to boost oil production to 4 million barrels per day in the near future.
The production is spread across 10 main locations, including the biggest refineries such as Persian Gulf Star refinery (450,000 bpd), Isfahan plant (370,000 bpd), the Abadan refinery (360,000 bpd), the Bandar Abbas site and (320,000 bpd) and the Kharg Oil Terminal, which is capable of containing up to 28 million barrels of crude.
The production is spread across 10 main locations, including the biggest refineries such as Persian Gulf Star refinery (450,000 bpd), Isfahan plant (370,000 bpd), the Abadan refinery (360,000 bpd), the Bandar Abbas site and (320,000 bpd) and the [[Kharg Oil Terminal]], which is capable of containing up to 28 million barrels of crude.
In the first five months of 2024, Iran reportedly exported 1.65 million bpd, a significant increase as compared to 1.194 bpd exported in 2023 within the same period.
In the first five months of 2024, Iran reportedly exported 1.65 million bpd, a significant increase as compared to 1.194 bpd exported in 2023 within the same period.