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Iran earns $531 billion in oil revenues during Ahmadinejad presidency

Iran Materials 5 September 2012 10:31 (UTC +04:00)
Iran has gained some $531 billion oil income since 2005 when President Mahmoud Ahmadinejad took office, former senior oil official Akbar Torkan said.
Iran earns $531 billion in oil revenues during Ahmadinejad presidency

Azerbaijan, Baku, Sep.4/ Trend F.Milad/

Iran has gained some $531 billion oil income since 2005 when President Mahmoud Ahmadinejad took office, Mehr News Agency quoted former deputy of oil minister Akbar Torkan as saying.

"The 7-year income accounted for 47 percent of Iran's $1116 billion oil income during the past 103 years," Akbar Torkan said.

For the time being, exports of crude oil and condensates make for some 80 percent of oil revenues, he noted.

"Oil income has been the main reason behind enlargement of the state-run sector in Iran and it has led to a low productivity in the national economy," member of the Iranian society of energy economy Gholamhossein Hassantash said in May.

Gholamhossein Hassantash added that oil deposits should be preserved untapped unless there is a need to oil income, the Pana News Agency reported.

Despite the fact that downsizing the government has been recently reiterated, but what we have seen was the government's enlargement, he said.

He added that the economy resembles a closed bowl which is full and there is no room to add it any material. The national economy does not have the capacity to be overloaded with oil incomes.

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