IRAN

 

MEES Agenda

 

New US Sanctions Hit Iran, Upstream Sector Already Stressed

 

Iran has replaced some international oil companies (IOCs) with local firms, claims to have funded projects with rial-backed bonds, has improved buyback contracts and is considering allowing production sharing agreements (PSAs) to attract more investment. But as further sanctions hit crude exports, the output fall threatens to damage reservoirs, lowering production...