Iranian banking sector is coping satisfactorily from oil proceeds, accorind to Amir Hossein
Zamani-Nia. The Deputy Chief for Financial and Economic Affairs at the Nartional Iranian Oil Company said that cash flow was satisfactory but business was not yet back to normal.Iranian finances are no longer blocked but new oil and gas agreements have yet to be finalized.
Proceeds form new deals will bolster Iran’s cash flow, he said. During internatinal restrictions on the banking sector, proceeeds from the sales of one million barrel per day could not be transferred to the country or recovered, according to Zamani-Nia. Major internaitonal banks are still reluctant to commit themselves, said the official.
Iranian oil exports reached 2.2 Mil barrels per day – ۱۵۰ thousand to 300 thousand addition, in real terms. By year end – March 21 2017 Iranian Year – total annual iranian oil exports will reach 2.5 Mil barrels per day. Add anotehr 500 thousand barrels of gas concentrates to our daily exports, total oil exports will reach 3 million. Iran intends to extract another 850 thousand barrels per day to its total output – net 4 Mil barrels per day by year end.
Iranian light crude was priced at US $48/66cents in mid-October 2016.Zamani-Nia concluded that once oil contracts are finalized Iranian oil will sell for , on average, US $ 50 — /barrel.