Middle East
Iran
Iran is at the epicenter of escalating tensions around the Strait of Hormuz amid its standoff with the US. Economic survival is the key priority of the government as US sanctions take a significant toll.
State of Play
The return of US sanctions has crushed Iran’s planned upstream opening, quashing any appetite from western IOCs. Tehran’s hopes for foreign investment now rest firmly with Russia and China, but even here it is enjoying little progress. Meanwhile, key buyers have halted importing Iranian crude and condensate in a blow to the government's efforts to avert economic catastrophe. Iran is struggling to maintain flows using clandestine methods.
2020 In Numbers
| Crude Output | 1.99 | mn b/d |
| 2018 Crude Output | 3.58 | mn b/d |
| Gas Output (2019) | 244 | bcm |
| Petchems Capacity | 80 | mn t/y |
6 Aug, 2021
Featured
Fiery Start For Iran’s Raisi Presidency
If Iran’s new president is to reach an agreement with the US to ease nuclear-related sanctions he needs to swiftly cool down overheating regional tensions. The country’s economic health depends on it.
Iran: Key Oil Export Infrastructure
NEWS IN BRIEF
Iran-Afghanistan Oil Products Shipments
27 Aug, 2021
Iran Goes To The Polls, Or Not
18 Jun, 2021
Iran Petchems Fires: Israel Suspected
28 May, 2021
Iran Prepares New Oil Export Terminal For Start-Up
23 Apr, 2021
Iran’s Rohani Lauds Gas Legacy
5 Feb, 2021
Iran Oil Export Terminal Start Up Delayed
5 Feb, 2021
SELECTED DATA
Iran Gas Balance: Net Exports Have Soared In Recent Years (bcm)
Iran Crude & Condensate Exports Have Recovered From 2020's Lows, And Tehran Is Hopeful Of Returning To 2.5mn b/d ('000 b/d)
Iran Crude Oil Production Rollercoaster (‘000 b/d): Output Has Overtaken Kuwait And Is Closing In On The UAE
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