In a meeting with the head of Iran’s Program and Budget Organization, Javad Oji announced the country’s need for $160 billion in investment in the oil and gas industry, saying “If money is not spent on development, Iran will become an importer of oil and gas in the future.”
This amount is almost double the total oil revenues of the Islamic regime of Iran before the withdrawal of the United States from the JCPOA and the imposition of economic sanctions against Tehran. Regime leaders have repeatedly said that sanctions have caused Iran’s oil revenues to fall from $100 billion to less than $8 billion.
Recently, Mohsen Khojastehmehr, CEO of the National Iranian Oil Company, warned that Iran would become a gas importer by 2025 if the necessary investments were not made in this sector and compensation programs for gas production were not implemented.
Iran has the second largest natural gas reserves in the world, but is trying to import gas from Turkmenistan due to shortages caused by the underdevelopment of the oil and gas industry.
