Energy in Iran is a very powerful issue, largely because of the oil and natural gas reserves located in country. A member of the Organization of the Petroleum Exporting Countries (OPEC), and among the world’s top three holders of these reserves, Iran is OPEC’s second-largest producer and exporter after Saudi Arabia, and is the fourth-largest exporter of crude oil globally after Saudi Arabia, Russia, and Norway (http://www.eia.doe.gov/emeu/cabs/Iran/Full.html.)
The domestic energy consumption in Iran is supplied halfway by natural gas power, the rest of their power coming primarily from oil. There are areas in Iran that continue to be explored for their potential natural fuel reserves. The second-largest producer for oil and fourth-largest for crude oil, Iran is a world leader in fossil fuels, these industries carrying Iran's economy.
The high level of production for these fuels within Iran not only means that the economy is extremely dependent and almost based on it, but also this is how Iran fuels the majority of their own energy needs as well. In terms of electricity, Iran is working with hydroelectricity technology as people begin to question Iran's ability to fill its own domestic energy needs.
US sanctions during the past two decades have led to the suffering of Iran's oil and gas sector suffers from under-investment.
Not only do these sanctions keep UA business from Iran, but it also scares some other nations away for fear of sanctions fron the US tat might harm them and their needs.
In Iran, petrol is heavily subsidized, consequently raising consumption levels and increasing the smuggling that goes on. Wasteful consumption in conjunction with refinery shortage has led to the import of petrol despite their production of the fuel.
Iran holds a spot as a major contender for pipeline projects, has plans for the exploitation of Caspian Sea oil, is working on nuclear energy technology, and, according to the director of Iran's New Energies Organization, 0.2% of Iran's oil revenues - amounting to millions of dollars - is to be used to develop new energy sources.(http://news.bbc.co.uk/2/hi/middle_east/4688984.stm)
(http://www.eia.doe.gov/cabs/Iran/Background.html)
(http://news.bbc.co.uk/2/hi/middle_east/4688984.stm)
(http://tonto.eia.doe.gov/country/country_energy_data.cfm?fips=IR)
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