Oil & Gas

Iran has the world`s largest combined hydrocarbon reserves (4th largest oil reserves after Venezuela, Saudi Arabia and Canada, 1st in terms of natural gas reserves). Iran ranks second in the world in natural gas reserves and fourth in proven crude oil reserves. Iran is one of the world’s major countries in oil export and it is rich in natural resources.

Advantages:

  • Low extraction costs
  • Low percentage of oil income in GDP

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Source: BP Statistical Reviews