Iran is the world’s fourth largest oil producer. It has the world’s second largest gas reserves and fourth largest oil reserves, as well as being quite rich in minerals. Iran was a founding member of OPEC, and is an important player in today’s world oil market, with great potential for future oil and gas discoveries and for increasing production and exports.
Iran has a strategic position in world trade , bridging the economies of the East and the West. geographically it links Central Asia and the Caspian region to the Persian Gulf and Indian – Ocean .The country is now well past its revolutionary turmoil and its foreign policy objective is currently to minimize international and regional tension and to promote dialogue among civilizations and friendly cooperation with other nations .
Twenty-three years after the triumphant 1979 Revolution , the Islamic Republic now follows more pragmatic policies. It is liberalizing trade and foreign exchange and thus trying to attract foreign capital in all sectors , especially oil , gas and petrochemicals. Massive reconstruction has taken place since the end of the eight-year imposed war with Iraq in 1988 . Following the opening of its hydrocarbon sector, Iran has been successful in attracting international oil and gas companies’ investments , despite unrelenting U.S sanctions’ policies.