Iran is projecting average oil exports of 1.3mn b/d in the next Iranian year, slightly less than the 1.4mn b/d average realized from March 2012 to January 2013, Rahim Mambini, Deputy Head of the Strategic Planning and Control Organization affiliated to the presidential office, told a local news agency.

Latest estimates from the International Energy Agency (IEA) put Iranian oil exports at 1.28mn b/d in February, up from an upwardly revised 1.13mn b/d in January 2013, despite recently introduced new US sanctions. China and India took the incremental volumes, the IEA said. Production is currently averaging around 2.750mn b/d, according to MEES estimates. Mr Mambini had previously estimated oil revenue for the next fiscal year at IR660 trillion ($58.3bn). (CONTINUED - 302 WORDS)