Parts of this article (those related to 2012–present) need to be updated. Please help update this article to reflect recent events or newly available information.(April 2016)
This article is about the petroleum industry in Iran. For the industry's economic effects, see Economy of Iran.
Iran is an energy superpower and the petroleum industry in Iran plays an important part in it.[2][3][4] In 2004, Iran produced 5.1 percent of the world's total crude oil (3.9 million barrels (620,000 m3; 160 million US gal) per day), which generated revenues of US$25 billion to US$30 billion and was the country's primary source of foreign currency.[5][6] At 2006 levels of production, oil proceeds represented about 18.7% of gross domestic product (GDP). However, the importance of the hydrocarbon sector to Iran's economy has been far greater. The oil and gas industry has been the engine of economic growth, directly affecting public development projects, the government's annual budget, and most foreign exchange sources.[5]
In FY 2009, the sector accounted for 60% of total government revenues and 80% of the total annual value of both exports and foreign currency earnings.[citation needed] Oil and gas revenues are affected by the value of crude oil on the international market. It has been estimated that at the Organization of the Petroleum Exporting Countries (OPEC) quota level (December 2004), a one-dollar change in the price of crude oil on the international market would alter Iran's oil revenues by US$1 billion.[5]
In 2012, Iran, which exported around 1.5 million barrels of crude oil a day, was the second-largest exporter among the Organization of Petroleum Exporting Countries.[7] In the same year, officials in Iran estimated that Iran's annual oil and gas revenues could reach $250 billion by 2015.[8] However, the industry was disrupted by an international embargo from July 2012 through January 2016.[9][10] Iran plans to invest a total of $500 billion in the oil sector before 2025.[11][12]
^SHANA: Share of domestically made equipments on the rise Archived 2012-03-09 at the Wayback Machine. Retrieved July 26, 2010.
^Energy and the Iranian economy. DIANE. July 25, 2006. ISBN 9781422320945. Archived from the original on April 7, 2016. Retrieved April 14, 2016. {{cite book}}: Unknown parameter |agency= ignored (help)
^Bezen, Balamir Coşkun (2009). "Global Energy Geopolitics and Iran" (PDF). Uluslararası İlişkiler. 5 (20): 179–201. Archived from the original (PDF) on 2014-04-01. Retrieved 2016-10-29.
^"The Rising might of the Middle East super power - Council on Foreign Relations". Cfr.org. Archived from the original on 2016-03-03. Retrieved 2012-02-07.
^ abcKurtis, Glenn; Eric Hooglund. Iran, a country study. Washington D.C.: Library of Congress. pp. 160–163. ISBN 978-0-8444-1187-3. Retrieved November 21, 2010. This article incorporates text from this source, which is in the public domain.
^"Iran's Foreign Trade Regime Report" (PDF). Archived from the original (PDF) on 2013-03-10. Retrieved 2010-08-11.
^"Sanctions reduced Iran's oil exports and revenues in 2012". EIA. Apr 26, 2013. Archived from the original on February 1, 2014. Retrieved May 13, 2013.
^Mehr News Agency: Iran eyes $250 billion annual revenue in 5 years Archived 2018-07-17 at the Wayback Machine Retrieved December 22, 2010
^Nasseri, Ladane (12 February 2012). "Iran Won't Yield to Pressure, Foreign Minister Says; Nuclear News Awaited". Bloomberg News. Archived from the original on 23 December 2014. Retrieved 14 April 2016.
^Chuck, Elizabeth (16 January 2016). "Iran Sanctions Lifted After Watchdog Verifies Nuclear Compliance". Reuters. Archived from the original on 23 March 2016. Retrieved 14 April 2016.
many centuries, the modern petroleumindustry along with its outputs and modern applications are of a recent origin. Petroleum's status as a key component...
The petroleumindustry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transportation...
the Iranian oil industry (Persian: نهضت ملی شدن صنعت نفت ایران) resulted from a movement in the Iranian parliament (Majlis) to seize control of Iran's oil...
total crude oil and petroleum products imports and over 40% of Nigeria exports. The need for holistic reforms in the petroleumindustry, ease of doing business...
and distributor under the direction of the Ministry of Petroleum of Iran. NIOC was established in 1948 and restructured under The Consortium Agreement of...
comes to dealing with Iran. Energy portal India portal History of the petroleumindustryin Canada History of the petroleumindustryin the United States...
of Iran PetroleumindustryinIran National Iranian Oil Company List of companies of Iran Bank of Industry and Mine IMIDRO HEPCO Economy of Iran Privatization...
proven petroleum reserves. At 2020 rates of production, Iran's oil reserves would last 145 years if no new oil was found. According to NIOC, Iran recoverable...
the petroleumindustryin Norway is the most significant part of Norway's economic history, and significant across that of Europe's petroleumindustry. A...
The petroleumindustryin Azerbaijan produces about 873,260 barrels (138,837 m3) of oil per day and 29 billion cubic meters of gas per year as of 2013...
There is a long history of the petroleumindustryin Iraq. In ancient times Plutarch wrote of oil bubbling from the ground near Kirkuk, but oil exploration...
The American Petroleum Institute (API) is the largest U.S. trade association for the oil and natural gas industry. It claims to represent nearly 600 corporations...
operator of the field is Pakistan Petroleum Limited. Cnergyico Pk Limited Attock Group of Companies Oil industryIran–Pakistan–India gas pipeline Pakistan...
Iran’s automotive industry is the third most active industry of the country, after its oil and gas industry, accounting for 10% of Iran's GDP and 4% of...
The history of the petroleumindustryin France covers the exploitation of petroleumin its relation to the economy of France. In 1917, France effectively...
Petroleum has been a major industryin the United States since the 1859 Pennsylvania oil rush around Titusville, Pennsylvania. Commonly characterized as...
ILSA in 2006) targets both American and non-American businesses that make investments over $20 million inIran for the development of petroleum resources...
The history of the petroleumindustryin the United States goes back to the early 19th century, although the indigenous peoples, like many ancient societies...
of the Ministry of Petroleum of Iran, and operates as a subsidiary of National Iranian Oil Company. NISOC was incorporated in 1971 in Masjed Soleyman, Khouzestan...
Research Institute of PetroleumIndustry was initially established under the title of “IranPetroleumIndustry Research Development Office” in 1959. (Persian:...
Guyana is one of the newest petroleum producing regions in the world, making the first commercial grade crude oil draw in December 2019. Crude oil is...
petroleum industry, the Tudeh party supported granting the Soviet petroleumindustryinIran its wishes on grounds of "socialist solidarity", "internationalism...
Petroleum politics have been an increasingly important aspect of diplomacy since the rise of the petroleumindustryin the Middle East in the early 20th...
largest oil producer in 2009, and has the world's fifth largest proven petroleum reserves. Just a fraction of Iraq's known fields are in development, and...
of Petroleum and Mineral Resources (Egypt) Ministry of Petroleum (Iran) Ministry of Petroleum Resources Development, Sri Lanka Ministry of Petroleum and...
The Petroleum University of Technology (Persian: دانشگاه صنعت نفت) is an Iranian public university funded by the Ministry of Petroleum particularly by...