- Past ( 20 Articles )
No doubt , the past 100 years have been tumultuous times for Iran’sOil industry , with many watershed events worth recapitulating for any a Person interested in the Middle East affairs in general & Iran in particular . As it’s challenges have closely been tied with this regions’ contemporary Geopolitics as well as social upheavals . The widespread ramifications of which have seldom ceased impacting the scene of international politics , due to the strategic importance of Oil in the global economy and the unique role of Iran in shaping Middle East developments .
Eruption of Oil from the first well drilled in Masjid-e-Soleiman in 1908,Construction of the Abadan oil refinery in 1913 , the unsuccessful revision of the D’Arcy Concession in 1933 , the victory of the oil industry nationalization movement in 1950 , the negotiation of a futile agreement with the consortium of oil companies in 1954 ,which brought the domination of foreigners over Iranian oil reservoirs – a symbolic approach to petrochemical and gas industries in 1961 , and finally , the wasteful utilization of the country’s petroleum assets , are some of the tragic events from which many worthwhile lessons may be learnt. - Prospect ( 10 Articles )
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.
