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 |
27 Oct, 2023
Featured
Iran Eyes Imminent Petrochemicals Boost
Iran is finalizing development of new petrochemical facilities, but weakening markets mean that a repeat of last year’s bumper revenues is unlikely.
Key Iranian Petchems Infrastructure
NEWS IN BRIEF
Iran Stations Troops On Iraq Border
15 Sep, 2023
Iran South Pars Phase-11 Start Up
18 Aug, 2023
Dorra Plans Reignite Kuwait-Iran Border Dispute
7 Jul, 2023
Iran Cuts Asia OSPs By 5CTS Vs Saudi
23 Jun, 2023
Iranian-Iraq Gas Exports Up
28 Apr, 2023
Iran Claims Higher Crude Exports, Promises More
31 Mar, 2023
Iran 210,000 b/d Refining Boost
24 Mar, 2023
Iran: South Pars Ph-14 Online
10 Mar, 2023
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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