International sanctions targeting Iran were lifted in 2016. One year on, US political developments may cause trepidation, but Iran is forging ahead regardless.

Iran has exceeded expectations in jumpstarting its oil sector following the implementation of the Joint Comprehensive Plan of Action (JCPOA) on 16 January 2016, which saw the bulk of international sanctions lifted (MEES, 22 January 2016). Crude production rose 20% in 2016 to 3.43mn b/d (see p10) while buyers’ imports of Iranian...