Growth hiatus
The Opec deal lets Iran increase output. It’s unlikely to breach that limit … for now
Former president Akbar Hashemi Rafsanjani, who died on 8 January at the age of 82, was frustrated by US sanctions when he tried to entice ConocoPhillips to his country. Now the administration of his successor and protégé, Hassan Rouhani, is treading a tricky path between new politics abroad, elections at home, sanctions, foreign oil companies and Opec. Iran has long had the goal of raising oil production significantly, in line with its reserves and its historical importance within Opec. For many years the group's clear second-largest producer, it has now fallen well behind Iraq into third place. Its oil production target is 5.8m b/d by 2021, of which about 4.8m b/d would be crude oil. This s
Also in this section
11 February 2026
Panellists from three LNG buyers at LNG2026 in Doha outlined their evolving procurement strategies as they navigate heightened market volatility
11 February 2026
North African producer plans to boost output by early 2030, with Europe its number one priority as export destination
11 February 2026
Maritime leaders at LNG2026 warned of the dangers of over-regulation on competitiveness, sustainability and innovation
10 February 2026
The country has opened bidding on 50 blocks in a new licensing round but will face competition for attention and will need to address concerns about security and legislation
