The Iranian oil industry is a significant sector of the country's economy, contributing a large portion of its revenue. Iran has some of the largest oil reserves in the world, primarily located in the Persian Gulf region. The industry includes exploration, extraction, refining, and export of crude oil and natural gas. Despite its vast resources, the Iranian oil industry faces challenges such as international sanctions and aging infrastructure. These factors have impacted production levels and foreign investment. The government continues to seek ways to modernize the industry and increase output to boost economic growth.