Iran Fuel Subsidies Twofold Higher Than Oil Revenues

The National Iranian Oil Company paid $80 billion in fuel subsidies in 2022, approximately twice its oil revenues in the same year.
According to data from the National Iranian Oil Refining and Distribution Company, a subsidiary of NIOC, Iran earned close to $40 billion by selling crude and petroleum byproducts in the last fiscal year that ended on March 20, IRNA reported.
Giving a breakdown, the report noted that Iran’s subsidies for gasoline in 2022 was close to $36.5 billion that equals 65% of the government's general budget in the current fiscal year (stated in March) at $53 billion.
NIOC’s subsidies for fuel last year ($80 billion) indicated a 15% rise compared to 2018 when the figure amounted to $70 billion and Iran was chosen as the largest fossil fuel subsidizer, leaving behind Saudi Arabia with $44.72 billion and China with $44.44 billion.