RSS
Логотип
Баннер в шапке 1
Баннер в шапке 2

NIOC (National Iranian Oil Co.)

Company

Content

Main article: Oil and gas production

History

2021: Preparation for recovery

In May 2021, the Iranian National Iranian Oil Co. (NIOC) began preparations for the restoration of oil production amid negotiations with the United States in Vienna, where Tehran's return to an agreement on a nuclear program and the lifting of sanctions are being discussed.

In an optimistic scenario, after the lifting of sanctions, Iran will be able to almost double production and return it to pre-sanctions levels in three months.

The volume of Iranian oil exports since the imposition of sanctions has decreased by more than 4 times. The EU, under pressure from the United States, completely abandoned its use.

2020: Mining collapse

US sanctions brought down oil production in Iran by half - from 3.9 to 1.9 million barrels per day, and exports reduced to almost zero. In the summer of 2020, it fell to a negligible 100 thousand barrels per day, but again began to grow and reached 500 thousand barrels daily after Democrats led by Joe Biden came to power in the White House in the United States.

2019: US sanctions lead to the shutdown of part of the fields

Production at some of the fields was stopped two in 2019 after the administration of US President Donald Trump imposed an oil embargo against Iran, once the third largest producer in OPEC.