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.
| Crude Output | 3.58 | mn b/d |
| Crude Exports | 2.05 | mn b/d |
| Gas Output (2017) | 224 | bcm |
| Gas Exports (2017) | 13 | bcm |
| Refining capacity | 1.73 | mn b/d* |
End-year
31 Jan, 2020
Featured
With US sanctions holding up Iraqi payments to Iran, Baghdad risks losing crucial gas and electricity imports that are central to recent power generation gains.
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