Iran’s oil industry is feeling the pinch from energy subsidy reforms as it becomes increasingly disgruntled at having to shoulder the financial burden of government cash handouts. Iran’s former president Mahmoud Ahmadinejad enacted the first phase of subsidy reforms in December 2010, rais-ing fuel prices but easing the burden on low-income consumers by implementing a parallel programme to return half of the money saved in the form of targeted cash handouts.
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