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 |
NEWS IN BRIEF
Iran Hikes Enrichment
15 Oct, 2021
Iran-Venezuela Oil Swap
1 Oct, 2021
Dana Gas Wins Iran Arbitration
1 Oct, 2021
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
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
Get Our Headlines Weekly
Keep abreast with current events with our weekly headlines.
You’ll also be notified of our free articles & maps.
By signing up, you agree to receive promotional emails. You can unsubscribe at any time. For more information, read our privacy statement.