This study is concerned with the relationship between the Iranian Oil Industry and Iranian economy. Oil revenues have been the largest source for financing economic development plans and for obtaining foreign exchange. In this paper, the history of the Iranian oil industry is summarized, and five previously implemented developmental plans are analyzed. Additionally, the impact of oil on some economic sectors and its contribution to GNP is examined. The strong correlation between oil reserves and the economy may bring a problem in the future when oil reserves run out. Iranian economists believe that the economy must be industrialized in order to reduce the economy's reliance on oil. This paper recommends that all the economic sectors, particularly agriculture, should receive careful consideration, even though the national goal is to industrialize the economy.

This study is an examination and comparison of the manner in which Nigeria, Iran and Libya used oil revenue for their economic development. The research methodology was the case study approach, utilizing statistical time series data, as well as a historical profile of each country's income and expenditure accounts. As a prelude to the oil injection, the pre-oil revenue economy, the history of the oil industry, and the previously implemented development plans of each of these nations is surveyed. The impact of the oil revenues on the standard of living and the non-oil sectors of these economies is examined. The paper concludes with projections concerning each country's ability to continue to promote economic development when its exhaustible oil reserves runs out.