Iran Oil Industry

 

 

An Introduction to Iran Oil Industry

Iran Oil Industry has been one of the major Oil Industries in the world. Iran Oil Industry is ranked fourth among the world oil industries and the average output of Iran Oil Industry is more than 4 million barrel. The highest output in Iran Oil Industry took place in the year 1974 when the average output reached a record 6 million barrel per day. The Iranian Government after that reduced the average output in order to keep or conservation of oil.

Iran has got nearly 10 percent of the total oil stock in the world which makes the country a very important one in terms of the production of energy which the world needs very badly. The production of oil decreased further during the 1980s which lasted for almost a decade and brought great damages to Iran’s oil facilities. The lack of facilities were overdone by the Iran Oil Industries and the infrastructure has also been improved over the years with the help from other economically improved nations.

According to the Oil Industry experts, Iran Oil industry has achieved a state of self sufficiency in almost all the sectors of oil production industry. The Iran Oil Industry is looking to improve upon the native engineers to become experts in all the sectors of the oil industry so that Iran does not have to depend upon engineers of some other countries. The Iran Oil Industry wants them to improve in sectors like refining, drilling and exploration as well.

According to the experts the one major problem the Iran Oil Industry normally faces is that of mechanism or what can also be termed as the hardware sector for which Iran still depends highly on other nations. The Iranian Oil companies are looking to solve this problem by forming partnerships with other foreign oil farms.

Iran Government is also looking to build an oil bourse which would end the greenback monopoly and would provide Iran Oil Industry which would probably provide a larger level of profit for the country.