Iran finds more export custom
As Iran ramps up output, it is beginning to turn the tide on exports too
Iran has shown the first tangible signs that it is successfully countering efforts to prevent it from exporting oil, following a frank admission by the country’s oil minister that it is indeed concealing the origin of its crude shipments. International crude sales play a vital role in Iran’s economy, which has gone into freefall as the US’ sanctions noose tightens. Despite Tehran’s best efforts to diversify its economy, including major investments in the downstream sector, GDP contracted by 7.6pc between April and December 2019 largely because of a 37pc decline in the oil sector, according to the World Bank. While just 30pc of the country’s budget for the 2019/20 fiscal year was expected to
Also in this section
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
