ran’s oil reserves account for about 9 percent of the total world reserves and rank third in the world. It has been estimated in 2007 that Iran has 136.3 billion barrels of oil reserves.

Iran is the 2th largest OPEC producer of oil and 4th largest in the world.

Iran’s domestic consumption of energy and oil is high due to some governmental subsidies. By cutting these subsidies and reduction in consumption, Iran’s power of export would be considerably increase.

The oil sector generates almost 50% of the total Iran’s State revenue. lran’s enormous proved reserves of petroleum are located mostly in the southwestern part of the country near the Persian Gulf.

According to WTO’s International Trade Statistics, the value of Iran’s exports of fuel in 1990 was $15307 million. This value increased to $25611 million in 2000, $64139 million in 2006, $72894 million in 2007 and finally $92993 in 2008.

According to WTO’s International Trade Statistics, the share of fuel exports in 2000 was 89.1% and 2008 was 82% of Iran’s total value of exports.

- Export share of oil & gas in 1995 was 82.3% and in 1996 was 85.3%.