Middle East


Iran’s planned upstream opening has been stalled as renewed US sanctions have quashed the appetite of western IOCs. Tehran’s hopes for foreign investment now rest firmly with Russia and China. Meanwhile retaining existing buyers of crude and condensate is essential as the government seeks to avert economic catastrophe.

Iran Oil Shipments To Asia At 1.59mn B/D For Q1 2018 Are Down On 2016 And 2017 Average Volumes (‘000 B/D)
EU Imports From Iran Have Been Consistently Over 500,000 B/D, Accounting For Around 25% Of The Country's Exports ('000 B/D)
EU Imports Of Iranian Crude Double In 2017, Number Of Buyers Rises From 9 To 11 ('000 B/D)