Petroleum industry in Iran
Parts of this article (those related to 2012–present) need to be updated.(April 2016) |
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.[
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.
History
The era of international control, 1901–1979
The history of Iran's oil industry began in 1901, when
In 1950 ongoing popular demand prompted a vote in the
Beginning in the late 1950s, many of Iran's international oil agreements did not produce the expected outcomes; even those oil companies that managed to extract oil in their designated areas contributed very little to the country's total oil production. By the time of the
In 1973, at a time when Iran was the second-largest oil exporter in the world and the
The era of nationalized oil, 1979–present
Isolation and stagnation under Khomeini
Following the Revolution, the NIOC took control of Iran's petroleum industry and canceled Iran's international oil agreements. In 1980 the exploration, production, sale, and export of oil were delegated to the Ministry of Petroleum. Initially Iran's post-revolutionary oil policy was based on foreign currency requirements and the long-term preservation of the natural resource. Following the Iran–Iraq War, however, this policy was replaced by a more aggressive approach: maximizing exports and accelerating economic growth. From 1979 until 1998, Iran did not sign any oil agreements with foreign oil companies.
Khatami era
Early in the first administration of President
Post-JCPOA era
The signing of the
Oil production and reserves
Total oil production reached a peak level of 6.6 Mbbl/d (1,050,000 m3/d) in 1976. By 1978, Iran had become the second-largest
In 2006 Iran reported crude oil reserves of 132.5 billion barrels (2.107×1010 m3), accounting for about 15 percent of OPEC's proven reserves and 11.4 percent of
In the early 2000s, leading international oil firms from
A more modest yet important agreement was signed with
Oil refining and consumption
In 2011
Between 1981 and 2010, domestic consumption of oil products increased from 0.6 Mbbl/d (95,000 m3/d) to 1.8 Mbbl/d (290,000 m3/d)[34]—an average annual growth rate of 3.7 percent. Between 1981 and 2004, consumption of gasoline grew by 6 percent annually, but domestic production met only 75 percent of demand for this product. In 2004 the country imported US$1.6 billion worth of gasoline. By 2006 it imported 41 percent of its gasoline, but by 2010 imports were down to 19.5% of gasoline consumption[34] and heavy investment in new refining capacity may see Iran exporting gasoline by 2015.[34] Refining capacity increased 18% in 2010 and the target is to increase refining capacity to 3.5 million barrels per day.[35]
Trade in oil and oil products
In 2006 exports of crude oil totaled 2.5 Mbbl/d (400,000 m3/d), or about 62.5 percent of the country's crude oil production. The direction of crude oil exports changed after the
In 2010, Iran, which exports around 2.6 million barrels of crude oil a day, was the second-largest exporter among the
According to IHS CERA estimate, oil revenue of Iran will increase by a third to
In 2020 exports of petrochemicals and petroleum products were worth almost $20 billion.[39]
-
Iran crude oil and condesate exports for key countries.
Pipeline transport
According to the Global Energy Monitor website, the top five countries in terms of developing pipelines (proposed and under construction) are the United States, India, Iraq, Iran, and Tanzania. Iran has ranked first in terms of oil pipelines under construction. Ministry of Petroleum Iran is among the five parent companies developing oil pipelines.[40][41]
Natural gas
In addition to the
Since 1979, infrastructure investment by Iranian and foreign oil firms has increased pipeline
The output of South Pars is the basis of the
In the 1980s, Iran began to replace oil, coal, charcoal, and other fossil-fuel energy sources with natural gas, which is environmentally safer. The share of natural gas in household energy consumption, which averaged 54 percent in 2004, was projected to increase to 69 percent by 2009. Overall, natural gas consumption in Iran was expected to grow by more than 10 percent per annum between 2005 and 2009.[36]
With international
Market value of Iran's total
Major foreign projects
In 2004 Iran signed a contract with France and Malaysia for production and export of natural gas and another agreement with European and Asian companies for expansion and marketing of its natural gas resources. In 2005 Iran exported natural gas to
Among some more recent deals, Switzerland's energy company EGL, signed a 25-year LNG export deal with Iran's National Iranian Gas Export Company on March 17, 2007, reportedly valued at 18 billion. Switzerland will buy 5.5 billion cubic meters of Iranian natural gas each year, beginning in 2011. In April 2007, OMV, the Austrian partially state-owned energy company, signed letters of intent with Iran, worth an estimated $22.8 billion (22 billion euros), for Iran to supply Europe with gas. The United States has expressed strong opposition to both the Swiss and Austrian deals with Iran.[58]
The
Other notable petroleum sector development deals include those with
Petrochemicals
In the early 2000s, an ambitious state
Iran's petrochemical industries have absorbed a large amount of private and public investment. In the early 2000s, 43 percent of these investments was financed by
See also
- Energy in Iran
- Economy of Iran
- Industry of Iran
- Iranian Oil Bourse
- Ministry of Petroleum of Iran
- National Iranian Oil Company
- National Iranian Oil Refining and Distribution Company
- National Iranian Petrochemical Company
- National Iranian Gas Company
- Tehran Stock Exchange
- Iranian targeted subsidy plan
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{{cite journal}}
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External links
- Ministry of Petroleum Of Iran Official Website
- Ministry of Energy Of Iran Official Website
- US Department of Energy - Iran's entry
- SHANA - Official News Service for Oil and Gas in Iran
- Oil & Gas Industry in Iran - 2003 Study (history, market overview, domestic suppliers, major projects, buy-backs)
- FACTBOX-Iran's crude export and fuel import customers - Reuters
- Offshore Middle East and Caspian Sea Oil and Gas Market Report 2011
- Iran Gas Markets Report, 2011 - GlobalData
- Iran's oil exportation map by country Archived 2012-01-28 at the Wayback Machine
- Iran oil sanctions calculator - Reuters
- Infrastructure map of Iran's fields and facilities
- Persia Land of Black Gold
- Iranian Discoveries Continue