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
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
