Iranian storage poses shipping headache
Iran may face crude transportation bottlenecks if and when sanctions are lifted
Iran and Western powers are back negotiating a tentative nuclear agreement, raising the possibility that sanctions on Iranian crude might be lifted once more. But despite Iran having huge stocks of crude already in storage, the country may experience bottlenecks—at least initially—with shipping that glut, given the state of its domestic fleet, concerns among other shipowners and insurance stipulations and requirements. State-run news agency IRNA claims that there are currently 78mn bl of Iranian crude stored aboard “tankers in Asian waters”. Energy market analytics firm Vortexa estimates that 36 tankers—comprising 31 very large crude carriers (VLCCs) and five Suezmax vessels—from the state-
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
