RoydadNaft –  Oil and gas trade has had a remarkable effect on Iran’s economic growth, said a member of the Parliament’s Energy Committee on Saturday.

Alireza Varnasseri added the 13th administration has moved on a track in its energy – oil and gas – trade redesign, which has brought great benefits for the country domestically and internationally.

The Statistical Center of Iran (SCI) has recently released the country’s economic growth in spring 2023, said the lawmaker, adding the oil and gas sector’s contribution to it is quite noticeable.

According to SCI figures, the oil sector registered a 25.6 percent growth in summer 2023, up from 19.8 percent in this year’s spring, accounting for 16 percent of the country’s gross domestic product (GDP) growth.

Following the policy of neutralizing the sanctions on the oil and gas sector, Iran has managed to find new and unsanctionable markets, Varnasseri pointed out.

Relying on domestic knowledge-based companies’ expertise, Iran has exported its technical services, equipment and consequently crude oil to the renovated refineries, he concluded.