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
30 June 2025
Government is sending out the right policy signals to support increased domestic gas development, but policy takes time to implement and even longer to yield results
27 June 2025
Gas-on-gas competition pricing has grown its share of consumption significantly over the past two decades, primarily at the expense of oil-price-escalation pricing, according to the IGU
27 June 2025
Dire crude projections and heavy debt burden are weighing heavily on NOC Pemex
27 June 2025
TotalEnergies’ delayed FID for its Venus project will likely set back first oil, but Windhoek has other irons in the fire
