Supply Irregularities in IT Master's thesis example

Then, there was a line of projects to be commenced. Currently, a number of projects are in their on going phases. Several reports suggest that Iran is producing a range of 3.8 to 4.2 million barrels per day of oil currently. US Department of Energy reported that in the first seven months in 2001, Iran’s production of oil was 3.9 million barrels per day or near to its figure of 100,000 barrels per day, that was more as compared to its average productivity in 2000 (Petrochemical Industry and Market of Iran, 2005). US Department of Energy also reported that Iran keeps a capability of production of nearly 3.9 million of crude oil estimation. In an international conference in 2002, the Minister of Petroleum reported that Iran kept the capacity of production of 4.2 million barrels per day then (Ule and Alexander, 2004). According to a report, Iran was able to produce a total of six million barrels per day in 1974.

Iran had set a mission in its five-year plan in 2000 to reach to the range of five million barrels per day of oil production by 2005. This set objective seemed inappropriate and irrelevant because judgements indicate that Iran was not able to reach this capacity because of lack of oil production projects (Petrochemical Industry and Market of Iran, 2005). To achieve its set objective, Iran aimed to make the foreign investment of hydrocarbons nearly doubled in the forthcoming years. At that time, the investment in hydrocarbons sector was nearly 12 billion dollars, which was thought of to be doubled within forthcoming years. Until 2020, Iran has set a much higher ambition that is the production of 8 million oil barrels per day (WWP, 2006).