Iran’s Ministry of Petroleum has revealed that the country generated $18 billion in oil revenue during the active conflict and subsequent ceasefire period with the United States.
According to official statements made by Iranian Oil Minister Mohsen Paknejad, the export revenues managed to cover over 60 per cent of the oil earnings projected in Iran’s annual state budget despite significant maritime disruptions and US blockades in regional waters.
Revenue Breakdown Across Conflict Phases
The ministry provided a split showing how crude exports fared across the distinct phases of the recent crisis:
-
Active Conflict Phase ($11.5 Billion): Generated during the height of hostilities that erupted on February 28.
-
Ceasefire Window ($6.5 Billion): Generated between the start of the April 7 ceasefire and its collapse in early July.
┌────────────────────────────────────────────────────────────────────────┐
│ IRAN OIL REVENUE & EXPORT SUMMARY │
├────────────────────────────────────────────────────────────────────────┤
│ • Total Sales : $18.0 Billion (War + Ceasefire combined) │
│ │
│ • Active War Period : $11.5 Billion (Feb 28 – Apr 7) │
│ │
│ • Ceasefire Window : $6.5 Billion (Apr 7 – Jul 10) │
│ │
│ • Budget Target : Met over 60% of annual projected oil revenues. │
│ │
│ • Key Drivers : Tapping offshore floating reserves (100M barrels│
│ stored crude/condensate) & dark-fleet logistics. │
└────────────────────────────────────────────────────────────────────────┘
(Sources: Iranian Ministry of Petroleum & Official Executive Statements)
Tapping Floating Storage Amid Blockades
The announcement comes despite earlier statements by Iranian officials—including Parliament Speaker Mohammad Bagher Ghalibaf—who noted that exports had been hit hard during periods of intense US naval blockades around southern Iranian ports.
Oil Ministry data indicates that reduced shipping risks during the spring ceasefire allowed Tehran to offload and export portions of its 100 million barrels of stored crude oil and gas condensate held on offshore tankers, helping shore up state finances.
Ayodele Quadri
Correspondent
