Work on South Pars in 2016
Tehran goes it alone
Iran has announced multibillion dollar spending programmes aimed at domestic companies, inspired by recent export success
Iran’s entanglement in a worsening regional conflict with Israel is dominating headlines, but below the radar, the Islamic Republic has orchestrated an increase in oil output and exports that is feeding greater confidence in its ability to resuscitate its oil and gas sector. OPEC figures show Iranian crude production rose from an average of 2.55m b/d in 2022 to 2.86m b/d in 2023. By Q4 2023, Iranian output was above 3m b/d, a five-year high. Iran was last year ranked as the world’s second-largest source of supply growth after the US and is expected to increase production by a further 280,000b/d this year, according to the IEA. Crude exports, which fell to as low as 300,000b/d in 2020, accord
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
