VOL XL
No. 03
20-January-1997
IRAN
Aghazadeh Expects 1997-98 Oil Revenue To RiseTo $18Bn
The Iranian Oil Minister, Mr. GholamrezaAghazadeh, has confirmed that Iran's oil revenue in the 1376 budget, which starts on 21March 1997, is expected to reach $18bn based on an average oil price of $17.50/B andexports of 2.5mn b/d of crude oil plus exports of refined products. When the budget wasfirst presented to the Iranian parliament in December oil revenue was estimated at $17.7bn(MEES, December 1996)....
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