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.
2018 In Numbers
Crude Output
3.58
mn b/d
Crude Exports
2.05
mn b/d
Gas Output (2017)
224
bcm
Gas Exports (2017)
13
bcm
| Crude Output | 3.58 | mn b/d |
| Crude Exports | 2.05 | mn b/d |
| Gas Output (2017) | 224 | bcm |
| Gas Exports (2017) | 13 | bcm |
15 Nov, 2019
Featured
Iran Digs Deep With Massive Heavy Oil Find
Claimed discovery of the country’s ‘second largest’ field is unlikely to distract from ongoing hardships.
Iran's Namaravan Deep Heavy Oil Discovery
NEWS IN BRIEF
Iran Plans $1.3bn Finance
15 Nov, 2019
Iran Military Bank Takeover
18 Oct, 2019
Iran Exports At New Low
13 Sep, 2019
Iran’s Bold Claim, Just Bluster?
30 Aug, 2019
US Claims To Have Downed Iran Drone
19 Jul, 2019
UK-Iran Tensions Soar Following Hormuz Incident
12 Jul, 2019
Turkey Crude Imports: Iran Up, Russia Up
31 May, 2019
SELECTED DATA
Iranian Annual* Petrochemicals Production & Exports (Mn Tons)
Asian Imports Of Iranian Crude And Condensate ('000 B/D)
India's Purchases From Top Six Oil Buyers* Falling Due To Lost Iranian Barrels
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