Growth hiatus
The Opec deal lets Iran increase output. It’s unlikely to breach that limit … for now
Former president Akbar Hashemi Rafsanjani, who died on 8 January at the age of 82, was frustrated by US sanctions when he tried to entice ConocoPhillips to his country. Now the administration of his successor and protégé, Hassan Rouhani, is treading a tricky path between new politics abroad, elections at home, sanctions, foreign oil companies and Opec. Iran has long had the goal of raising oil production significantly, in line with its reserves and its historical importance within Opec. For many years the group's clear second-largest producer, it has now fallen well behind Iraq into third place. Its oil production target is 5.8m b/d by 2021, of which about 4.8m b/d would be crude oil. This s
Also in this section
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
