Monday 7 January 2013

UPDATE 1-Iran oil export revenues down 45 pct since March-ISNA | Reuters

Iran's earnings from oil have slumped by 45 percent since last March and are not likely to rise over the next three months, Iranian Oil Minister Rostam Qasemi told a parliamentary budget committee on Monday, according to Iran's ISNA news agency.

Qasemi has until now played down any impact of Western restrictions on oil sales but he told Iranian MPs that sales volumes had fallen by 40 percent over the last nine months while earnings had dropped 45 percent, ISNA quoted a budget and planning committee spokesman as saying.

Iranian officials do not expect any improvement in oil earnings before the end of the current Iranian year in late March and foresee only a modest rise in exports after that.
UPDATE 1-Iran oil export revenues down 45 pct since March-ISNA | Reuters

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