News ID: 618
Date: Wednesday 3 April 2024 - 0:57

How much oil did Iran sell in 2022 and how much discount did it give?

How much oil did Iran sell in 2022 and how much discount did it give?
Iran has only received one million and 153 thousand barrels of oil money per day, and the difference between the export statistics of the Ministry of Oil and the money received is calculated as a discount due to sanctions.

According to Energy Press, Abdullah Babakhani, an energy expert, tweeted: “In a new interview, the oil minister said that we sold 35 billion dollars of oil and gas condensate last year. We assume that this number is correct, but part of it, according to their previous statements, was the condensate of the previous government’s reserve. (about 5 billion dollars was the previous production) which even we count as this year’s production.
The amount of Iran’s oil discount can be easily calculated. The average global oil price was 83 dollars. Minister’s sales number is divided by the global average price.

This means that Iran received only one million and 153 thousand barrels of oil money per day, and the difference between the export statistics of the Ministry of Oil and the money received is calculated as a discount due to sanctions.

For example, if the Ministry of Oil says that the export was one million and 250 thousand barrels, the amount of the discount will be 3 billion dollars, which is 8%. If the export is 1 million 350 thousand barrels, the amount of discount is 6 billion dollars and 16%. If the export is 1 million 500 thousand barrels, the amount of discount of 10 billion dollars will be 28%. If the export is 1,800,000 barrels, the discount of 19 billion dollars will be 54%.
The noteworthy point here is that the embargo is not only a discount on exports, but it also brings a reduction in production and wear and tear of oil industry equipment.

Hoping for a day when there will be no sanctions and we can collect funds for future infrastructure projects in the remaining 6-7 years.”

 

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