Iran is an
energy superpower and the
Petroleum industry in Iran plays an important part in it. In 2004 Iran produced 5.1 percent of the world’s total crude oil ( per day), which generated revenues of US$25 billion to US$30 billion and was the country’s primary source of
foreign currency. At 2006 levels of production, oil proceeds represented about 18.7 percent 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.