Iran makes the best of it
Sanctions are constraining Iran’s output and straining oil storage capacity
The latest round of sanctions on Iran have confronted its petroleum industry with a new set of challenges. For at least two decades, it has struggled to sustain production at its ageing oil fields. Now, as under the Obama-era confrontation, sanctions pose a different problem: how to keep oil exports going as best as possible. When the Joint Comprehensive Plan of Action (JCPOA) came into force in January 2016, a new Iran Petroleum Contract was being defined to cover a range of fields for foreign investment. But this process made little progress, with the most advanced deal, with France’s Total and China’s CNPC for development of Phase 11 of the South Pars gas field, ending with Total’s exit i
Also in this section
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind