Iran’s Oil Minister Javad Owji recently responded to accusations regarding the government’s alleged oil price discounts. Owji countered claims made by two presidential candidates, arguing that the discounts under the current administration were smaller than those seen in the previous government.
The allegations surfaced from reports by bne Intellinews, citing information from the Islamic Republic News Agency, claiming that Iran was effectively giving away its crude oil. In response, Owji emphasized that significant discounts were not a practice under the current government, rejecting recent claims to the contrary.
Moreover, Owji highlighted the government’s efforts to enhance oil sales through innovative strategies such as leveraging overseas refineries’ capacity. He noted that under the Raisi administration, Iran had successfully increased oil production from 2.2 million barrels per day to 3.6 million barrels per day. The ongoing plans aimed to further expand production to 4 million barrels per day by the end of the current Iranian year.
Additionally, Owji disclosed that over the past three years, Iran had boosted crude oil production by 1.4 million barrels per day, alongside launching 150 oil industry projects valued at $34 billion. This surge in oil industry development led to a notable 20% growth rate last year, marking the highest growth rate among all sectors of the Iranian economy.
Looking ahead, Owji expressed confidence in the continuity of Iranian oil export and production regardless of changes in the U.S. government, underscoring the resilience and stability of Iran’s oil industry.
These statements from Owji come amidst Iran’s upcoming presidential elections following the tragic death of President Ibrahim Raisi in a helicopter crash last month.