Iran Oil and Gas Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Iranian oil and gas market is expected to register a CAGR of more than 3.4% during the forecast period (2022-2027). The COVID-19 pandemic negatively affected the Iranian oil and gas market due to the decline in oil prices. However, resurgent demand for oil and gas in 2021-2022 is expected to nullify the effects of the pandemic. The revenue of oil and gas companies declined on the note of unexpected lockdown and deaths. Factors such as the increasing natural gas pipeline capacity and the increasing demand for petroleum products are expected to drive the market during the forecast period. However, the high volatility of crude oil prices is expected to hinder the growth of the Iranian oil and gas market.
Key HighlightsThe Iranian oil and gas market is consolidated. Some of the major companies include National Iranian Oil Company, Iranol Oil Company, National Petrochemical Company, Pars Oil Company, and National Iranian Oil Refining and Distribution Company.
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