Iran has signed thirty-five contracts for the export of oil since the previous marketing arrangements through a western consortium were terminated.
GV INTERIOR Chairman of National Iranian Oil Company, Hassan Nazih, speaking to newsmen in Teheran (8 shots)
Since April the first, Iran's oil has been exported at sixteen dollars and four U.S. cents for a barrel of heavy crude and sixteen dollars and fifty seven cents for Iranian light. The price is a slight reduction on post Revolution prices but still much higher than under the old regime. The prices are above those set by the Organisation of Oil Exporting Countries (OPEC), but Iran says they are hardly enough to compensate for inflation.
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Background: Iran has signed thirty-five contracts for the export of oil since the previous marketing arrangements through a western consortium were terminated.
SYNOPSIS: The announcement was made on Sunday (29 April) by the Chairman of the National Iranian Oil Company, Mr. Hassan Nazih. The contracts were made mainly with former members of the consortium which ended with the February revolution. The total volume of oil involved is some two and a half million barrels a day.
Mr. Hassan Nazih confirmed that overall production would run at three and a half to four million barrels a day. Previous production was six million barrels.