Iran, OPEC’s oil revenue among the forefront of Rise of Iran

    Iran, as a potential oil services major client in the future, due to the expansion of cooperation relations, be concerned about all aspect information especially oil exports, which would directly or indirectly affect the future of Hilong S&E in Iran.
    Economic Daily New, Abu Dhabi, April 29 – U.S. Energy information Administration (EIA) recently released statistics show that although the international price remains in the doldrums from, but Iran oil income in the first quarter of this year still reached 90 billion U.S. dollars and the United Arab Emirates in OPEC’s final tied for second. According to Iran’s Ministry of Finance and Economy and the central Bank statistics, in the past 4 years, Iran’s oil export earnings have reached a total of 211.718 billion U.S Dollars, of which 71.6 percent for the government budget. Home and lack of resolution caused by many OPEC members cut the first quarter of this year; oil income was 96 billion U.S.dollars, far less than the same period last year the level of 215 billion U.S. dollars. Experts predict that Iran’s oil income of this year will be below 40 billion U.S. dollars, dropped sharply from 78 billion dollars by the last year. As a result, Iran’s economic growth rate is expected to 3% lower that last year, 2.2 percentage points. Due to lack of oil income, the National Iranian Oil Company has cut one-third of this year’s budget.