Managing Director of Iranian Oil Terminals Company (IOTC) Pirouz Mousavi says Iran has brought its crude oil exports capacity to five million barrels per day (bpd). “Following renovation and reconstruction of oil jetties, and loading and offloading facilities, the country’s oil throughput capacity has increased to around 5m bpd,” Mousavi said on Wednesday. He said that Kharg oil terminal alone can handle several million barrels a day of crude oil. Mousavi stated that four new crude oil storage facilities, which are expected to become operational by February next year, will raise Kharg’s storage capacity to 28 million bpd.
“Simultaneous with [Iran] Oil Ministry’s plan for enhanced crude oil production and exports capacities, the black gold’s exports throughput at the country’s oil terminals will increase,” the official said.Iran holds the world's third-largest proven oil reserves and the second-largest natural gas reserves. The country's total in-place oil reserves have been estimated at more than 560 billion barrels, with about 140 billion barrels of recoverable oil. Heavy and extra heavy varieties of crude oil account for roughly 70-100 billion barrels of the total reserves. KA/HGH