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Iran: Oil production below capacity

25 April 2010

Iran's oil minister, Massoud Mirkazemi has said that his country has the capacity to produce more than 4.1 million barrels per day (bpd) of crude, but is pumping at well under that level due to Opec restraints, Reuters has reported. "Iran has always tried not to go beyond 3.6-3.7 million bpd to remain committed to Opec quotas," Mirkazemi said. Mirkazemi also spoke of Iran's potential to export gas, saying it was ready to start exporting to Switzerland as long as transit country Turkey gave its consent and Switzerland signed the contract directly with Iran.

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