Note: In this post we had reported Iran's oil export at 3.7 mb/d. That was of course a mistake. The export level is around 2 mb/d. The oil production is around 3.7 mb/d. Many thanks to one of our readers for pointing out the mistake and for sending us relevant data on Iran's oil industry.
Thursday, September 16, 2010
Iran Oil Export: Challenges Ahead
A number of financial publications, including the Financial Times, in the past few days have examined the challenges confronting Iran in exporting its crude oil because of the recent sanctions imposed by the UN, the US, EU, Japan and South Korea. Although the US has not as of yet sanctioned Iranian oil, but a variety of financial sanctions put in place in the past two month are creating major problems for the customers to buy oil from Iran. The most serious challenges are as follow: