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
Choose Sections
Load more

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.