Iran Oil & Gas Q2 2019
The re-imposition of US secondary sanctions on November 5 has darkened the medium-term outlook for Iran. 2019looks set to register sharp year-on-year declines in crude and condensates production and exports. The gas sector is relatively moreinsulated, but will suffer from the loss of foreign and private investment. Potential export bottlenecking may also act as a constrainton gas production in the longer term. While the domestic market will continue to expand, overall energy demand growth will facepressure, as the economy struggles under the weight of wide-ranging secondary sanctions.
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