Iran - the great return: part two

Iran's energy sector is making progress, but political threats are lingering

After years of struggle and stasis, Iran's energy sector enjoyed a strong 2016 and should start 2017 with optimism. Following the lifting of sanctions, oil production and exports have been restored, creating a platform for much-needed international investment. But political and practical uncertainties inside and outside the country must be resolved before investment deals can really start to flow. Oil production rose above 3.6m barrels a day in the second half of 2016, compared with 2.8m b/d for most of 2015. The country boosted exports to its Asian customers, and regained market share in Greece and Italy. Iran has demanded an increase in its Opec production ceiling to 4m-4.2m b/d, its negot