Vienna deal brings Iran’s oil back to market
The clinching of the Iran nuclear deal in Vienna paves the way for the Islamic Republic’s re-emergence into the global oil market – if it gets past its opponents
The deal itself freezes Iran’s nuclear activity for 10 years, in exchange for a gradual unwinding of sanctions. This involves an intrusive inspection regime that the deal’s many critics – from Israel through to the Arab Gulf states and President Obama’s Republican opponents – believe will ultimately fail to halt Iran’s clandestine nuclear programme in its tracks. Tehran stands to gain access to a bounty worth tens of billions of dollars in frozen bank accounts, as well as a flood of foreign investment as international oil companies in particular target a large, wealthy and untapped economy. That is alongside the benefits accrued from lifting the sanctions targeted at Iran’s crude exports
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6 March 2026
The March 2026 issue of Petroleum Economist is out now!
6 March 2026
After Europe’s rapid buildout of floating LNG import capacity, Exmar CEO Carl-Antoine Saverys says future growth in floating gas infrastructure will increasingly be driven by developing markets as lower prices, rising energy demand and the need to replace coal unlock new opportunities for unconventional and tailor-made solutions
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
