Iran's energy sector review

Iranian finance and economic affairs minister Shamseddin Hosseini has said that the country's gross domestic product (GDP) is on the verge of $1 trillion, and that the country's national economy stands at 17 th  place in the world. In a meeting with Supreme Leader Ayatollah Ali Khamenei on Monday, Hosseini said that the prospect of the national economy is promising and hopeful despite the intensified international sanctions, according to ISNA. The International Monetary Fund has said that Iran's GDP at current US$ stood at $482 billion in 2010, standing at the 25 place in the world. Iran is at the 79 th  place in terms of per GPD per capita. The World Bank also estimated that Iran's GDP in 2011 was $514.059 billion. Considering that Iran faced 1.9 percent economic contraction in 2012 and the national currency devalued by 40 percent during that year, the GDP at current US$ has even decreased below $482 billion. The GDP at current US$ is estimated by converting

Iranian President Mahmoud Ahmadinejad inaugurated a number of projects during his visit to Hormozgan province on Thursday. Amongst the projects unveiled was a dry-dock described as being the largest in the Middle East by Iranian media. Dry dock is a structure able to contain a ship and to be drained or lifted so as to leave the ship free of water with all parts of the hull accessible for repairs, painting, etc. "The dry dock can accommodate 300,000 ton tankers up to 370 metres long, 80 metres wide and 14.5 metres high, in addition to 140,000-cubic metre LNG carriers with a length of 470 metres, a width of 80 metres and a height of 14.5 metres," Press TV reported. Iran is already able to repair ships of up to 80,000 dwt (dead weight tons). The Mehr News agency quoted Ahmadinejad as saying that building the dry dock cost $433 million. Currently, there are three dry docks at Dubai's Drydocks World Company in the complex with capacities of 350,000 dwt, 500,000 dwt