Oil Minister: Country’s oil production capacity will increase by 250,000 barrels per day

According to Energy Press, quoted by Khaneh Mellat, Mohsen Paknejad said about the 14th government’s Ministry of Oil’s plan to increase oil production: “Based on a plan that was presented to the Economic Council and approved there, it was decided to increase oil production capacity by about 250,000 barrels per day. It is also expected that its financial resources will be provided through the National Development Fund, and we are looking to implement this plan.” It is worth noting that the Economic Council, based on Article (12) of the Law on Removing Barriers to Competitive Production and Improving the Country’s Financial System, had approved a contingency plan to increase crude oil production by 250,000 barrels per day in its meeting on August 12, 1403, and based on the request of the Ministry of Oil in June.