Oil Production, Exports Continuing under Favorable Conditions: Iran Oil Minister

Iran’s oil minister said Wednesday the country’s crude production and exports are ongoing and stable, though he declined to provide specific figures.

"I won't comment on the numbers, but the trend of oil production and exports continues as before, and the situation in this area is favorable and without problems," said Oil Minister Mohsen Paknejad, speaking on the sidelines of a cabinet meeting on Wednesday.

Addressing recent speculation about changes to gasoline pricing or quotas, Paknejad said there will be no modifications. “There will be no change in the amount of subsidized gasoline or its price,” he stated. “The current situation will remain unchanged.”

However, the minister announced a new offering: a higher-quality fuel product dubbed “Special Gasoline.” The product will be available to consumers who choose to pay for a premium-grade option, and its introduction is backed by existing legal provisions and a Cabinet approval.

Paknejad stressed that the rollout of special gasoline will not affect the existing monthly quotas of subsidized 60 liters or the 100 liters of unsubsidized gasoline. The new product will be distributed by private sector operators, while oversight and regulation will remain with the National Iranian Oil Products Distribution Company. - Shana