Iran’s tough stand reflects investment ambitions

Iran’s forthright rejection of proposals to freeze oil production reflects its ambitious investment plans for its oil and gas sector now that sanctions against the country have been largely removed
By Peter Stewart 28 September 2016
Recent increases in Iranian production have come from South Pars. (Pars O&G)

OPEC ministers met in Algeria this week for the International Energy Forum. They have been trying to lay the groundwork for a production freeze similar to that agreed in a tentative deal in April 2016, which was scuppered at the last minute by Saudi Arabia.

Iran’s oil minister, Bijan Zanganeh, told Bloomberg his country wants to raise its crude production to above 4 million barrels per day (MMb/d), but would not reach any deals at what he described as a "consultative informal meeting" in Algiers. He...

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