'Today marks the anniversary of the nationalization of oil industry in Iran. Introduction of oil to Iran's economy coincided the Constitutional Movement but it has not had a consistent role in our destiny,' he wrote in his Instagram page.
'Oil price fluctuations have always been a threat to Iran's economy. Nevertheless, it has been the policies of the governments which have been effective in the end.'
Jahangiri referred to the Iranian governments' achievements in running the country with a $7-barrel of oil during the Saddam-imposed war (1980-88) and launching of the National Development Fund, but criticized wasting of the $140-barrel oil incomes by the previous government.
He expressed the hope that following removal of sanctions under President Hassan Rouhani's government, the increasing of oil exports to 2 million barrels a day will result in the country's economic boom, as well as sustained and all-out development.