Editing Economy of Iran (section)

==== Energy, gas, and petroleum ====
{{Main|Energy in Iran|Petroleum industry in Iran}}
{{See also|Asalouyeh|List of power stations in Iran|Iranian nuclear program}}

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'''[[Energy in Iran|Energy]]'''<ref name="CIA"/><br />
'''Electricity:'''
*''production:'' 258 billion kWh (2014)
*''consumption:'' 218 billion kWh (2014)
*''exports:'' 9.7 billion kWh (2014)
*''imports:'' 3.8 billion kWh (2014)

'''Electricity{{Snd}} production by source:'''
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Image: Iran-electricity.gif|thumb|left|Iran plans to generate 23,000&nbsp;MW of electricity through [[Nuclear program of Iran|nuclear technology]] by 2025 to meet its increasing demand for energy.<ref>[http://www.irvl.net/iran-and-nuclear-energy/ Iran and Nuclear Energy] {{webarchive |url=https://web.archive.org/web/20101215143412/http://www.irvl.net/iran-and-nuclear-energy/ |date=December 15, 2010 }}. IRVL.net. Retrieved July 26, 2010.</ref>{{subst:needs update}}
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*''fossil fuels:'' 85.6% (2012)
*''hydro:'' 12.4% (2012)
*''other:'' 0.8% (2012)
*''nuclear:'' 1.2% (2012)

'''Oil:'''
*''production:'' {{convert|3300000|oilbbl/d|abbr=on}} (2015)
*''exports:'' {{convert|1042000|oilbbl/d|abbr=on}} (2013)
*''imports:'' {{convert|87440|oilbbl/d|abbr=on}} (2013)
*''proved reserves:'' {{convert|157.8|Goilbbl|abbr=on}} (2016)

'''Natural gas:'''
*''production:'' 174.5&nbsp;km<sup>3</sup> (2014)
*''consumption:'' 170.2&nbsp;km<sup>3</sup> (2014)
*''exports:'' 9.86&nbsp;km<sup>3</sup> (2014)
*''imports:'' 6.886&nbsp;km<sup>3</sup> (2014)
*''proved reserves:'' 34,020&nbsp;km<sup>3</sup> (2016)
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[[File:Countries by Natural Gas Proven Reserves (2014).svg|thumb|250px|Countries by [[List of countries by natural gas proven reserves|natural gas proven reserves]], 2014, based on data from The World Factbook. Iran has the world's [[Natural gas reserves in Iran|second largest reserves]] after Russia]]
Iran possesses 10% of the world's [[Iran's oil reserves|proven oil reserves]] and 15% of its [[Iran's Natural Gas Reserves|gas reserves]].<ref name="EIA">[http://www.eia.doe.gov/countries/cab.cfm?fips=IR Iran (data)]. US Department of Energy (2011). Retrieved March 28, 2011.</ref> [[List of power stations in Iran|Domestic oil and gas along with hydroelectric power facilities]] provide power.<ref name="EIA" /> [[Energy in Iran|Energy wastage in Iran]] amounts to six or seven billion dollars per year,<ref name="payvand5" /> much higher than the international norm.<ref name="RFE" /> Iran recycles 28% of its used oil and gas, whereas some other countries reprocess up to 60%.<ref name="payvand5">[http://www.payvand.com/news/08/oct/1303.html Energy Wastage In Iran Equals 6–7 Billion Dollars Per Year] {{Webarchive|url=https://web.archive.org/web/20200115095247/http://www.payvand.com/news/08/oct/1303.html |date=January 15, 2020 }}. [[IRNA]], October 29, 2008. Retrieved November 2, 2008.</ref> In 2008 Iran paid $84 billion in [[Iranian Economic Reform Plan#Subsidy reform plan|subsidies for oil, gas and electricity]].<ref name="Subsidy" /> It is the world's third largest consumer of natural gas after United States and Russia.<ref name="CIA"/> In 2010 Iran completed its first [[Bushehr Nuclear Power Plant|nuclear power plant at Bushehr]] with Russian assistance.<ref>{{Cite news|date=2010-08-21|title=Iran begins loading Bushehr nuclear reactor|language=en-GB|work=BBC News|url=https://www.bbc.com/news/world-middle-east-11045537|access-date=2022-02-19}}</ref>

Iran has been a major oil exporter since 1913. The country's major oil fields lie in the central and southwestern parts of the western [[Zagros]] mountains. Oil is also found in northern Iran and in the [[Persian Gulf]]. In 1978, Iran was the fourth largest oil producer, [[OPEC]]'s second largest oil producer and second largest exporter.<ref>[http://www.parstimes.com/history/economy.html Iran's Economy]. Parstimes. Retrieved September 24, 2010.</ref> Following the 1979 revolution the new government reduced production. A further decline in production occurred as result of damage to oil facilities during the Iraq-Iran war.<ref name="auto">Barry Schweid (December 26, 2006): [http://seattletimes.nwsource.com/html/nationworld/2003494872_iranoil26.html "Iran oil industry founders"]. ''[[The Seattle Times]]''. {{webarchive |url=https://web.archive.org/web/20070513192225/http://seattletimes.nwsource.com/html/nationworld/2003494872_iranoil26.html |date=May 13, 2007 }}. [[Associated Press]]. Retrieved February 12, 2008.</ref>

Oil production rose in the late 1980s as pipelines were repaired and new [[Persian Gulf|Gulf]] fields exploited. By 2004, annual oil production reached 1.4 billion&nbsp;barrels producing a net profit of $50 billion.<ref name="auto"/> Iranian Central Bank data show a declining trend in the share of Iranian exports from oil-products (FY 2006: 84.9%, 2007/2008: 86.5%, 2008/2009: 85.5%, 2009/2010: 79.8%, FY 2010 (first three quarters): 78.9%).<ref>{{cite web |url = http://www.cbi.ir/page/7961.aspx |title = Economic Trends No 62, Third Quarter 1389 (2010/2011), Balance of Payments, p.16 |author = Iranian National Bank |access-date = October 14, 2012 |archive-date = January 2, 2012 |archive-url = https://web.archive.org/web/20120102004422/http://www.cbi.ir/page/7961.aspx }}</ref> Iranian officials estimate that [[Ministry of Petroleum (Iran)#Revenues from crude oil|Iran's annual oil and gas revenues]] could reach $250 billion by 2015 once [[South Pars#South Pars development|current projects]] come on stream.<ref name="oil">[http://www.payvand.com/news/10/dec/1216.html Iran eyes $250 billion annual revenue in 5 years] {{Webarchive|url=https://web.archive.org/web/20110107125251/http://www.payvand.com/news/10/dec/1216.html |date=January 7, 2011 }}. Mehr News Agency, December 22, 2010. Retrieved December 22, 2010.</ref>

Pipelines move oil from the fields to the [[oil refinery|refineries]] and to such exporting ports as Abadan, Bandar-e Mashur and [[Kharg Island]]. Since 1997, [[Petroleum industry in Iran|Iran's state-owned oil and gas industry]] has entered into major exploration and production agreements with [[Petroleum industry in Iran#Major foreign projects|foreign consortia]].<ref name="LOC6">{{Cite book |last1 = Curtis |first1 = Glenn |url = https://archive.org/details/irancountrystudy00curt_2/page/160 |last2 = Hooglund |first2 = Eric |title = Iran, a country study |place = Washington, D.C., USA |publisher = [[Library of Congress]] |date = April 2008 |pages = [https://archive.org/details/irancountrystudy00curt_2/page/160 160–163] |isbn = 978-0-8444-1187-3 }}</ref><ref>{{cite news |first=Marc |last=Wolfensberger |title=Iran Invites Sinopec Head to Sign $100 Billion Oil, Gas Deals |publisher=Bloomberg |date=November 25, 2006 |url=https://www.bloomberg.com/apps/news?pid=20601080&sid=aEGZ4sBCjHQE&refer=asia |access-date=November 20, 2010 |archive-url=https://web.archive.org/web/20070206111213/http://www.bloomberg.com/apps/news?pid=20601080&sid=aEGZ4sBCjHQE&refer=asia |archive-date=February 6, 2007 }}</ref> In 2008 the [[Iranian Oil Bourse]] (IOB) was inaugurated in [[Kish Island]].<ref>[https://web.archive.org/web/20090110151138/http://www2.irna.ir/en/news/view/line-203/0802173565111734.htm 1st phase of Iran oil stock inaugurated on Kish Island]. IRNA, February 17, 2008.</ref> The IOB trades petroleum, petrochemicals and gas in various currencies. Trading is primarily in the [[euro]] and rial along with other major currencies, not including the [[Petrodollar|US dollar]].{{citation needed|date=July 2021}} According to the [[Ministry of Petroleum (Iran)|Petroleum Ministry]], Iran plans to invest $500 billion in its oil sector by 2025.<ref name="nitc.co.ir">{{cite web|url=http://iran-daily.com/1387/3109/html/economy.htm |title=$500b Needed For Hydrocarbon Sector |access-date=September 2, 2012 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20081007023119/http://iran-daily.com/1387/3109/html/economy.htm |archive-date=October 7, 2008 }}. ''Iran Daily'', April 24, 2008.</ref>