Iran Aims to Boost Oil Output

Iran plans to increase its crude oil production by 400,000 barrels per day (bpd) within the next eight months, according to the CEO of the National Iranian Oil Company (NIOC).

Hamid Bovard told state media that ramping up oil and gas production is a top priority for the current year. “We are targeting an increase of about 400,000 bpd in the next eight months,” he said, outlining the company's near-term strategy. Bovard also noted that plans are in place to develop around 50 oil fields and 50 gas fields across the country. - Tehran Times