March/April 2003 Issue

Iran: Oil

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Oil Reserves1 89.7 Billion barrels
2002 Oil Production1 1,259.25 Million barrels
2002 Oil Production Value2 $29.341 Billion
2002 Oil Production as Percentage of GDP3 35.65%
Companies Actively Pumping Oil3 National Iranian Oil Company; Gazprom (Russia); ENI-Agip (Italy); Petronas (Malaysia); Royal Dutch Shell (UK and Netherlands); TotalFina-Elf (France)
Top Countries Oil Exported to4 Japan (22%); Italy (8.5%); France (3%); Netherlands (1%); Germany (1%)

1 Source: Oil & Gas Journal, December 23rd 2002; pp. 113-115
2 Based on average imported refiner acquisition cost, January to October, 2002. Source: Monthly Energy Review, www.eia.doe.gov/emeu/mer/prices.html
3 Source: Energy Information Administration country analysis briefs, www.eia.doe.gov/emeu/cabs/
4 Source: International Petroleum Encyclopedia. Tulsa, OK: PennWell Publishing Co. (2002), pp. 79-84.

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