Irans biggest oil producer ready to increase production (2 November 2015)
As the time for lifting sanctions on Iran nears, Irans main oil producer has signaled readiness for increasing production.
Iran has said it plans to increase oil production by 500,000 bpd immediately after the sanctions against the country are lifted.
All Iranian oil-producing companies have been asked to prepare themselves for an increase in their oil output and in line with this plan, the National Iranian South Oil Company that produces nearly 83% of Irans oil and 16% of the countrys gas, has voiced readiness to boost its production.
At the same time, Iranian exports terminals have said they are ready to load more oil cargos and help promote Irans oil exports.
Source: IRNA- Date: (2 November 2015)