BAKU, Azerbaijan, November 17. Suppose the share of revenue of the National Iranian Oil Company is not increased. In that case, the country's largest economic company may face bankruptcy in the coming years, Iran's Deputy Oil Minister, Sajad Khalili, told reporters, Trend reports.
According to him, during the last Iranian year (from March 20, 2024, through March 20, 2025), the National Iranian Oil Company's share in oil and gas production amounted to about 7.4 billion euros. In the current Iranian year (March 21, 2025, through March 20, 2026), the National Iranian Oil Company's share in the state budget has fallen to 5.73 billion euros.
Khalili noted that the reduction in the company's share has led to serious financial constraints, effectively halting production growth and development.
The deputy minister announced that over the past 15 years, the National Iranian Oil Company's revenue from the sale of crude oil and gas condensate had been set at 14.5 percent. However, in practice, concessions granted to local industry had reduced the National Oil Company's actual revenue to less than 8 percent. For example, two years ago ( from March 21, 2023, through March 19, 2024), the National Oil Company's share of targeted benefits fell from 348 trillion rials (about $586 million) to 50 trillion rials (about $84.2 million) last year (March 20, 2024, through March 20, 2025). In other words, one of the company's important financial security reserves has been destroyed over the past two years.
To date, a total of 74 oil and 22 gas fields are operating in Iran. Of these, 37 oil fields are operated by the National Iranian Oil Company, 14 by the Central Iranian Oil Company, 5 by the Arvand Oil and Gas Company, and 18 by the Offshore Oil Company. In addition, five gas fields are operated by the National Iranian Oil Company, 13 by the Central Iranian Oil Company, one by Pars Oil and Gas Company, and three by the Offshore Oil Company.
Iran's total hydrocarbon reserves amount to 1.2 trillion barrels. Iran can extract 340 billion barrels using existing technological equipment. Iran can use about 30 percent, while 70 percent remains unused underground.