The Powerhouse of Iran
26th May 1908 marked the dawn of a new Iran – the oil exploration at Masjid Suleiman-1 had turned out to be a grand success. Since then the country has enjoyed the privilege of being one of the leaders in the global oil market.
Iran is the 1st country in the Persian Gulf to have discovered oil. It took the industry only twelve years to grow large enough to support the country’s economy. Subsequently, Iran found its place among the privileged members of the OPEC (Organization of the Petroleum Exporting Countries). As of 2015, the nation holds the third rank in global oil exports.
Although one of the pioneers in the oil sector, Iran’s natural gas exports have not yet turned out to be as thriving as its oil exports. There are several justifications behind this, with the major reason being that more than 50% of the production is consumed within the country.
Iran had to struggle to gain investors, often because of the unflattering terms on offer to the international oil companies and due to the operational problems that arose with the sector becoming more political, thus, subsequently, losing organization. The war with Iraq and the revolution added to the setbacks and incurred heavy financial losses. Yet, the Iranian government has taken every care to compensate all losses and turn the oil and gas sector into the financial powerhouse of the country.
With this infographic, let’s take a look at the key features of the century-old timeline of the Iranian oil and gas industry.
Client : Bradley Sack
Categories: Design, Infographic, Content Creation