Oil sanctions against Iran remain effective. But the country says it would export 2.3 mb/d of oil and condensate this year. Many experts believe that Iran’s return to the oil market is unlikely to cause any shock.
Iran: OPEC’s ‘brilliant history’ and the necessity of continued cooperation
Iran’s gas industry development has over the past six years seen daily growing development with the focus having been on recovery from the giant South Pars gas field.
Oil prices keep falling. Nobody could imagine that oil prices would hit their 17-year lows in less than three months. Analysts shift the blame on the novel coronavirus outbreak, which has degenerated into a global crisis. The Covid-19 outbreak caused economic stagnation and demand for oil and petroleum products dropped severely.
The idea of establishing oil startups was first raised less than a year ago by Petroleum Minister Bijan Zangeneh.
The Reservoir Management and Field Development Division of the Research Institute of Petroleum Industry (RIPI) is a dynamic specialized and scientific center seeking to bring about new changes in the upstream petroleum industry based on modern technologies and latest scientific achievements.
Shale oil and gas market has been gathering steam across the globe over the past decade. Many countries, particularly the United States, have developed new technologies to produce and process shale oil and gas.
With the implementation of output quality improvement projects in Iran’s refineries and the production of Euro-4 gasoline, Iran has taken effective measures in compliance with the Paris Agreement which came into effect in December 2015.
Iran hopes to bring its oil output to over 5 mb/d under its 20-year vision plan by investing in ageing fields. Some of oil fields in Iran are already mature. Their oil has partly been recovered, but cutting edge technologies are needed to extract the remaining oil.
Born in 1908, Iran’s petroleum industry went through ups and downs during the first four decades of its life.