Tehran
, Feb 14 (EFE) .- Iranian deputy oil minister Rokneddin Javadi announced on Sunday that his country has increased its oil production by 400,000 barrels per day after the lifting of international sanctions against the
Islamic Republic, adding that an increase by another 200,000 barrels per day will take place.
Javadi made this announcement while revealing 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 United States
,
France
,
China
,
Britain
,
Russia
and
Germany
). EFE
ar/ma
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Source: Equities.com News
(February 14, 2016 - 2:48 AM EST)
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