(MENAFN) According to a top Iranian oil official, the country plans to raise its crude oil production to 4.3 million barrels per day amid hopes for the removal of sanctions, Tehran Times reported.
Iran's current refining capacity stands at 1.8 million barrels per day, with forecasts that the figures will rise to 3 million in the next few years, the official also pointed out.
The National Iranian Oil Company (NIOC) said oil production capacity of the Islamic Republic would reach 4 million barrels per day by the end of March of 2015.
"In the near future, Iran's oil production capacity will reach 4.3 million barrels," the Iranian deputy oil minister for planning and supervision on hydrocarbon resources said.
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