Iran’s oil exports in the first five months of the current Iranian calendar year of 1390 has passed $40 billion, Mehr News Agency reported today. At the current pace, the annual oil export revenues could pass the $82 billion mark, highest since the 2008 record revenues of $88 billion.
Meanwhile, despite recent fluctuations in oil prices, the price of the basket of eight Iranian heavy and light crude remains above $100 a barrel. Iran’s oil export this year is averaging 2,250,000 bpd.
Iran’s Annual Oil Revenues:
2011: $82 billion (estimated)
2010: $72 billion
2009: $56 billion
2008: $88 billion
2007: $66 billion
2006: $58 billion
Source: OPEC/Mehr News Agency
We have to credit the Iranian leaders for not running down the economy.many people here are blind to see the positive gains of the Government .where as it is true that any Nation has its shortcomings i believe IRAN IS A SHINING EXAMPLE TO THE WORLD AS A COUNTRY THAT ASPIRES TO STAND BU ITS OWN LEGS.
Annual oil revenue is a function of world oil prices and not the nature of the governments in place. Saudi Arabia is having a banner year in oil revenues, for example. In 2009, Iran’s oil revenue hit a low, due to falling prices induced by global financial troubles.
The main relationship between oil revenue and politics is how the governments use the revenues to invest in their country’s future. Let's look at Britain and Norway: both started oil production in North Sea at the same time, and relatively at the same pace. Britain used the revenues as part of its budget to bolster expenditure. Norway sent the revenues to a national public trust that used the funds for investments inside and outside the country, with its government getting its share through taxation. Now the oil in that field is coming to an end. Britain has nothing to show, Norway has established one of the world’s largest sovereign funds whose income from its investments has exceeded its oil revenues! I am afraid that in the case of Iran, the previous and the present governments have followed the model of selling oil and spending it as part of their general budget. That would hardly make the country a shinning example when it comes to oil revenues and how they are used.
Rather than investing this excess oil revenues in infrastrucute (oil and gas) or improve the quality of Iranian products (for example safer production of petrol/gasoline with less toxics), the excess oil revenues in Iran are used to buy cheap rubbish from China and Turkey and fill the consumer shops in order to create the illusion that sanctions have failed. I was in Iran last week and I know what I am talking about!
Mr Uskowi, -THANK YOU FOR YOUR GOOD AND INTELLECTUAL ANALYSIS .However you still have to learn honestly the positive side of the Government in IRAN.IT IS INDEED a function of the nature of a Government on place!FIRST Iran is a country that is under layers of sanctions.the other day IT was finding it difficult to import some oil products and many things .All these were meant to bring the Government to its knees.BUT the Government invested well in the oil sector and today IRAN exports the same products it was importing just yesterday!may Allah bless this NATION for turning sanctions into self reliance!!!.
Yes iran has been investing billions of dlrs in sci&tech so far,gaining fruits now.long live iri!s of dlrs in sci&tech so far,gaining fruits now.long live iri!
Adam the Black man !
I love your point of view.
Bless you and Bless Iran
Bless Iran without Mullahs!
And Iran will be truly blessed without Islamic fascist murderous regime!
Thank god that day is approach very soon!
"Thank god that day is approach very soon!"
You guys have been prophesying this same line for the past 30 years but Iran keeps getting stronger and stronger...
May you live in "exile" for a very long time..
Anon August 31 4:54 AM
"May you live in exile for a very long time.."
I hate to disappoint you but I don't live in "exile" as a matter of fact every few months I travel to Europe for business and know the reality of our country unlike you who most probably lives in LA or Toronto or dare I say London get used to it!
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