Middle East Economic Survey


No 18



Irans Oil Revenue Rises To $31.5Bn In 2004-05

Iranian Oil Minister Bijan Zanganeh said last month that Irans oil export revenue had reached $31.5bn in the Iranian year to March 2005 and that it could earn a further $4.5bn from oil exports in the year to March 2006, if it continues to sell its oil at an average of $40/B. Mr Zanganeh added that Irans purchasing power had suffered because of the weaker dollar against the euro, since its...