Iran Keeps Crude Oil Exports Flowing Amid Ongoing Sanctions - Minister

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 8.​ Iran is maintaining its crude oil exports at near-maximum levels, said the country's Minister of Oil, Mohsen Paknejad, Trend reports.

Speaking at the opening ceremony of the 29th Iran International Oil, Gas, Refining, and Petrochemical Exhibition in Tehran on May 8, Paknejad emphasized that the country's crude oil exports remain strong despite increasing sanctions from the US and Western countries.

Paknejad stated that Iran is still in the early stages of its efforts to expand crude oil production and exports.

The Iranian minister added that new opportunities for boosting Iran's crude oil exports will arise through investments in the oil and gas sector, as well as by preserving and increasing current production levels.

To note, Iran produced 3.335 million barrels of crude oil per day in March 2025, according to the latest data from OPEC. This marks a slight increase of 12,000 barrels per day from February's output of 3.323 mb/d, and is also up from January's 3.278 mb/d.

As many as 74 oil fields and 22 gas fields are currently operating in Iran. There are 37 oil fields in the territory of the National Company of Iran's Southern Oil Zones, 14 in the territory of the Iranian Central Oil Zones Company, five in the territory of the Arvandan Oil and Gas Production Company, and 18 in the territory of the Offshore Oil Company. Additionally, the South Oil Zones National Company of Iran operates five gas fields, the Central Oil Zones Company operates 13, the Pars Oil and Gas Company operates one, and the Offshore Oil Company operates three.

Iran's total hydrocarbon reserves are 1.2 trillion barrels. Iran can produce 340 billion barrels of this gas with existing technological equipment. Iran can use about 30 percent, while 70 percent remains unused underground.

The US imposed new sanctions against Iran in November 2018 over Iran's nuclear program. Since then, the sanctions have affected Iranian oil exports and more than 700 banks, companies, and individuals.

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