Iran's oil industry

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  • "Petroleum has been the main industry in Iran since the 1920s. Iran was the world's fourth largest producer of crude oil and the second largest exporter of petroleum at the peak of its oil industry in the mid-1970s. The war with Iraq cut Iran's production in the 1980s, although Iranian oil reserves remained the fourth largest in the world." [1]
  • "In 2000, Iran, which was the world’s fourth largest producer of crude oil, averaged about 3.72 million barrels per day (Mbbl/d)." [2]
  • "As of late 2002, Iran held 90 billion barrels of proven oil reserves, or roughly 9% of the world's total. The vast majority of Iran's crude oil reserves are located in giant onshore fields in the southwestern Khuzestan region near the Iraqi border and the Persian Gulf." [3]
  • "Iran's economy relies heavily on oil export revenues - around 80-90 percent of total export earnings and 40-50 percent of the government budget." [4]

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