Sunday, March 27, 2022

"Iran: Oil production back to pre-sanction levels"

From Middle East Monitor, March 26:

Oil production in Iran has risen to what it was before sanctions were imposed by the US in 2018 after former President Donald Trump withdrew from the nuclear agreement.

The Iranian Ministry of Oil announced in a statement on Friday: "One of the promises of the Oil Ministry in the government of (Iranian) President Ebrahim Raisi has been fulfilled by returning Iran's oil production to the level before the unilateral US sanctions were imposed."

The statement added: "The oil production capacity before the sanctions reached more than 3.8 million barrels per day," however, it did not issue a number for the current production volume.

The Iranian Ministry of Oil considered this an important event, noting: "In addition to meeting the needs of local refineries, it could open Iran's hand to increase oil exports and restore its share in the global oil market."

According to the Iranian ministry's report, Iran's oil production capacity was about 3.838 million barrels per day before the US sanctions were imposed, which declined in previous years due to a lack of planning and low investment....

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Microsoft spent millions on bribes in Middle East and Africa,… 

Which line on the income statement do we find this broken out? Cost of goods sold? SG&A?