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Iran's Key Energy Statistics world rank
Total Primary Energy Production
2014
13.894
Quadrillion Btu
9
Total Primary Energy Consumption
2014
10.711
Quadrillion Btu
10
Crude Oil Proved Reserves
2014
157
Billion Barrels
4
Total Petroleum and Other Liquids Production
2014
3,380
Thousand Barrels Per Day
7
Proved Reserves of Natural Gas
2014
1,193
Trillion Cubic Feet
2
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Analysis - Energy Sector Highlights Last updated: June 19, 2015

  • Iran holds the world's fourth-largest proved crude oil reserves and the world's second-largest natural gas reserves. Despite the country's abundant reserves, Iran's crude oil production has substantially declined, and natural gas production growth has been slower than expected over the past few years. International sanctions have profoundly affected Iran's energy sector and have prompted a number of cancellations or delays of upstream oil and gas projects.
  • The state-owned National Iranian Oil Company (NIOC) is responsible for all upstream oil and natural gas projects. The Iranian constitution prohibits foreign or private ownership of natural resources. However, international oil companies (IOCs) can participate in the exploration and development phases through buyback contracts.
  • Iran is planning to change its oil contract model to allow IOCs to participate in all phases of an upstream project, including production. However, international sanctions have affected foreign investment in Iran's energy sector, limiting the technology and expertise needed to expand capacity at oil and natural gas fields.
  • Iran holds almost 10% of the world's crude oil reserves and 13% of OPEC reserves. About 70% of Iran's crude oil reserves are located onshore, with the remainder mostly located offshore in the Persian Gulf. Iran also holds proved reserves in the Caspian Sea, although exploration has been at a standstill.
  • Iran produced 3.4 million b/d of petroleum and other liquids in 2014, of which 2.8 million b/d was crude oil and the remainder was condensate and natural gas plant liquids. Iran's crude oil production fell dramatically from nearly 3.7 million b/d in 2011 to 2.7 million b/d in 2013 because of sanctions.

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