Management of Oil Revenues and the Lessons for the Future: Some Countrie's Experiences

From the 1960s the oil rich countries have been adopted policies to manage oil revenues in form of creating saving funds or stabilizing it. Iran in recent decades has done practical policies in this regard. The latest policies about Management of Oil and gas Revenues in Iran refers to third development program of the country and crating Sovereign Wealth Fund. The performance of this policy during the third and fourth development programs of the country did not match its goals. This article studies the experiences of some countries in which the history of establishing the fund is more than 10 years. Five countries have successful experiences like Kuwait, Venezuela, Alaska, Alberta and Norway; two countries have unsuccessful experiences include Oman and New Guinea. The experiences of these countries and the success factors of this policy have been studied and at last some policies for optimizing management of oil revenues has been mentioned.