MP: Oil Ministry performance in energy diplomacy ‘successful’, ‘transformational’

SHANA (Tehran) – A member of Iran’s Parliament on Wednesday described the Oil Ministry’s performance in the energy diplomacy as “successful” and “transformational”.

Talking to SHANA, Seyyed Mousa Mousavi added economic and energy diplomacy has reached a good level under the 13th administration.

The MP said the increase in oil exports, the expansion of Iran’s relations with neighboring countries, and the revival of economic and energy diplomacy promise a bright future for the country’s economy.

The member of the Iranian Parliament’s Energy Committee regarded forex inflow through oil sales and facilitation of exports as factors in increasing the country’s foreign currency revenues.

The oil industry’s productivity and economic growth is another achievement of the Oil Ministry under the 13th administration, the lawmaker mentioned.

Iran’s oil and gas industry has witnessed a 16.3 percent productivity growth during the 6th National Development Plan (ending March 19, 2024).

The oil and gas industry’s productivity has soared to 12.6 percent from -3.7 percent as domestic economy’s productivity rate has reached 3.7 percent from 0.8 percent, showing the country’s productivity and economic growth owes to the oil industry more than other sectors.  

According to the figures released by the Statistical Center of Iran (SCI), the oil industry registered 19.8 percent and 25.6 percent growth in spring and summer 2023 respectively – 22.7 percent on aggregate in the six months – having a 16 percent role in increasing Iran’s gross domestic product (GDP).

The SCI data also showed that Iran's economic growth in summer 2023 stood at 7.1 percent if the oil sector’s growth included and 4.2 percent if excluded.

News ID 637005


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