August 17, 2022

Persian News

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Oil Ministry fulfils 70% of its revenue obligation in Q1

TEHRAN – Oil Ministry has fulfilled 70 percent of its revenue-generating obligations in the first three months of the current Iranian calendar year, an official with the National Iranian Oil Company (NIOC) said.

“In the first three months of this year, nearly 70 percent of the foreign currency revenue obligations of the Oil Ministry have been collected and even some of the country’s overdue claims have been settled,” IRIB quoted Mohammad Rousta as saying on Friday.

Despite the restrictions caused by the sanctions, the sale of crude oil, gas condensate, as well as petroleum and natural gas products is ongoing and the revenues from it are being collected, Rousta said.

The NIOC financial director stated that the budgetary obligations of the ministry are being pursued and fulfilled completely, adding: “The mentioned success has been achieved despite the doubling of revenue obligations of the Oil Ministry in the current year’s budget bill compared to last year.”


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