Iran touts new contracts and talks up output plans
Iran will add at least 500,000 barrels/day to production “within a few months” of sanctions being lifted
Iran hopes to reach pre-sanctions capacity within a year of the embargo’s end and is targeting capacity growth of 2m b/d from 50 new projects it will offer to international oil companies (IOCs) next year. “We will develop to the extent our geology and the market lets us,” Seyed Mehdi Hosseini told the Oil and Money conference in London. He also offered more details about the new investment terms to be offered. The new Iran Petroleum Contract (IPC), a form of service contract, will replace the maligned buy-back model Iran used in the past. Investors will have the right “to enter into all steps including development and production” of each field. IOCs will not gain official title to the oil bu
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
