Iran could add 730,000 bpd "within months"of sanctions roll back

2015年08月18日 投资美国石油俱乐部



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Resourse: FuelFix


The International Energy Agency said Wednesday that Iran could add asmany as 730,000 barrels per day of production in less than a year once oilexport sanctions against the country are lifted.

According to Reuters, the agency estimates that Iran could boostproduction to between 3.4 million and 3.6 million barrels per day “withinmonths” of the sanctions being lifted.

Iran pumped an estimated 2.87 bpd in July, up 50,000 bpd from June.

Western sanctions have limited Iran’s crude exports to 1 million bpdsince 2012 from a high of 2.5 million bpd.

“While significantly higher production is unlikelybefore next year, oil held in floating storage – at the highest level sincesanctions were tightened in mid-2012 – could start to reach internationalmarkets before then,” the IEA said.

Last month, Iran reached a deal with the United States and five otherwestern powers that would roll back oil export sanctions against the country inreturn for curbed nuclear development.

Under the deal, Iran will be forced to remove two-thirds of itsinstalled centrifuges and store them under international supervision, disposeof 98 percent of its enriched uranium and permanently grant the InternationalAtomic Energy Agency any kind of access it needs to monitor nucleardevelopment.

However, the sanctions will only be lifted after Iran has complied withthe terms of the agreement, and after the agreement has been ratified by theU.S. Congress.

Analysts expect that the sanctions won’t be lifted until at leastDecember and added that they could still be in place at the end of the firstquarter of 2016, Reuters noted.

Last month, Iranian Minister of Industry, Mines and Trade Mohammad RezaNematzadeh said the country hopes to attract nearly $200 billion worth of newenergy projects by 2020.

Iran has redesigned its contract model in anticipation of a new foreigninvestment wave.

The new contracts, a model Iran is calling its integrated petroleumcontract (IPC), would have a life of 20 to 25 years.

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