News ID: 375
Date: Monday 27 November 2023 - 23:27

The significant role of oil in the country’s economic growth

The significant role of oil in the country’s economic growth
According to the latest information announced by the Statistics Center, the oil and gas group achieved an economic growth of 25.6%, which, according to the oil minister, was due to the growth of investments in the oil industry. According to experts, changing the approach and redesigning Iran's energy trade has played a role in this matter and this path should continue.

According to the report of Energy Press, according to the statistics center, the largest and most economic growth in different sectors of the economy was in the oil and gas production and trade sector, so that more than 20% of the economic growth was allocated to this sector and caused the growth the country’s economy to reach eight percent in total, in fact, Iran’s oil and gas sector, as the economic driver of the country, with the active energy policy and diplomacy of the 13th government, has played a very key and prominent role in the realization of this important.

One of the key approaches of the 13th government in becoming the driver of the country’s economic growth has been paying attention and focusing on neutralizing sanctions as much as possible by redesigning Iran’s energy trade, which, in addition to developing regional gas trade, has been able to create diverse markets for Iran’s crude oil in such a way that in Under the conditions of full embargo, Iran’s oil and gas are sold well, and this shows the role of redesigning Iran’s energy trade in the 13th government.

In addition to oil and gas trade, this government has also taken key and very important measures in the field of oil and gas production and extraction, which has caused Iran, relying on domestic power, to develop joint gas and oil fields and to extract maximum oil and gas, which is the last Iran’s initiative in this field is to reach the technology of gas extraction from the most complex joint layer of Iran’s border with Qatar in phase 11 of South Pars, which has been extracted with domestic power.

Economic growth depends on the development of investment in the oil industry

Also, oil production in the conditions of full embargo has broken records and has reached more than 3.4 million barrels per day. The statistics and figures available in the field of the oil industry show the right direction of this government in the field of oil, an issue that the Minister of Oil has repeatedly explained by explaining the measures. He emphasized it and recently announced that the 25.6 percent growth of the oil and gas industry was achieved by investing in projects that brought production growth and added value to the country.

According to him, Iran ranks first in total oil and gas reserves in the world, and it is a blessing that we should be able to actualize these potential funds in order to achieve a favorable growth in the people’s government.

What do the experts say?

The impact of the oil industry on economic growth is not hidden from anyone, most experts also emphasize the role of the Ministry of Oil in this matter and believe that the change and revision of the energy policy has been able to achieve this, Mehdi Hashemzadeh – an expert in the field of energy – in In this regard, he told ISNA: neutralization of sanctions has been one of the issues pursued by the 13th government, one of the problems that the governing part of Iran’s diplomacy has is that they want to move forward with the assumption that sanctions are lifted, the problem that arises is that when When we face sanctions, we don’t have a single mechanism to deal with it.

He added: This mechanism made serious changes, especially in the field of energy, on which the most sanctions were applied, the 13th government focused on market development instead of traditional available markets, the difference between market development and traditional marketing is that the new demand in the market arises, especially this issue is very effective in the discussion of oil.

Referring to the El Palito refinery as the first offshore refinery in this area, this energy expert said: Two more refineries will be produced in the same direction by the end of the year, while the contract for 17 refineries with a capacity of 2.4 million barrels per day has been signed so far. which covers the entire sale of oil, and in addition, we must produce one million barrels more according to the domestic demand of oil and reach the number of 4.2 million barrels per day.

Stating that one of the solutions was extraterritorial refineries and natural market creation that happened in oil, Hashemzadeh clarified: the result of Iran’s actions in redesigning its energy business in the field of oil and gas led to the fact that now with a high growth and development in the field of production We are faced with oil and gas, in fact, in the spring, the growth of production and export of oil and gas was about 20%, which became the driving force of the country’s economy, and finally we achieved the growth of 8%, which is observed in the seventh plan.

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