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In the same year, officials in Iran estimated that Iran's annual oil and gas revenues could reach $250 billion by 2015. [8] However, the industry was disrupted by an international embargo from July 2012 to January 2016. [9] [10] Iran plans to invest a total of $500 billion in the oil sector before 2025. [11] [12]
The vast majority of Iran's crude oil reserves are located in giant onshore fields in the south-western Khuzestan region near the Iraqi border. Overall, Iran has 40 producing fields – 27 onshore and 13 offshore. Iran's crude oil is generally medium in sulfur and in the 28°-35 °API range. [24]
As of July 2010, Iran produces between 280,000 barrels (45,000 m 3) and 285,000 barrels (45,300 m 3) of gasoline a day and until recently had acquired the remaining 30 percent, which is about 115,000 barrels per day (18,300 m 3 /d) to 120,000 barrels per day (19,000 m 3 /d), through big oil companies.
The 1973 Sale and Purchase Agreement was a 20-year agreement pressured by the Shah of Iran on the oil consortium that nullified The Consortium Agreement of 1954 and provided the National Iranian Oil Company with complete control of Iranian petroleum nationalizing the nation's oil reserves.
GOIL PLC formerly known as GOIL Company Limited (GOIL) and Ghana Oil Company and also known as GOIL, is a state-owned Ghanaian oil and gas marketing company, formed on 14 June 1960. [3] Currently it holds the place of Ghana's top oil marketing company, and is the only indigenous owned petroleum marketing company in Ghana .
The assets of the top 100 Iranian public corporations, which does not include major government owned corporations such as the National Iranian Oil Company and affiliated companies, Industrial Development and Renovation Organization of Iran (IDRO) affiliated companies, the Defense Industries Organization, Iran Air and the Iran Aviation ...
The nationalization of the Iranian oil industry (Persian: نهضت ملی شدن صنعت نفت ایران) resulted from a movement in the Iranian parliament (Majlis) to seize control of Iran's oil industry, which had been run by private companies, largely controlled by foreign interests. The legislation was passed on March 15, 1951, and was ...
The dispute was finalized with the incorporation of a 25-year international Oil Consortium Agreement of 1954, dividing the aforementioned 50% ownership to foreign companies as follows. 40% to be divided equally (8% each) among the five major American companies; British Petroleum to have a 40% share; Royal Dutch/Shell to have 14%; and Compagnie française des pétroles, a French Company, to ...