Middle East


Iran’s planned upstream opening has been stalled as renewed US sanctions have quashed the appetite of western IOCs. With Total exiting South Pars, Tehran’s hopes for foreign investment now rest firmly with Russia and China. Meanwhile key buyers France and South Korea have halted importing Iranian crude and condensate in a blow to the government's efforts to avert economic catastrophe.

Iran Gas Balance: Net Exports Up In 2017 (Bcm)
Turkey Crude Imports ('000 B/D): Iran Market Share Rises To 6-Year High 64% In March
EU Imports Of Iranian Crude Double In 2017, Number Of Buyers Rises From 9 To 11 ('000 B/D)