TEHRAN – Iran has earned 1.95 quadrillion rials (about $3.7 billion) from the sales of crude oil and gas condensate in the first seven months of the current Iranian calendar year (March 21-October 22, 2023), according to the Iranian Parliament Research Center (IPRC).

Based on the data released by the IPRC, based on the current trend, the country’s oil revenues are expected to reach 4.37 quadrillion rials (about $8.74 billion) by the end of the year (late March 2024), Mehr News Agency reported.

The mentioned data indicate that, considering the target set for the oil industry revenues in the current year’s national budget bill (which is 6.03 quadrillion rials or $12.06 billion), by the end of the current Iranian year, the government is expected to realize only 72 percent of the oil revenue targeted in the budget bill.

EF/MA