Iran’s downstream braces for the challenge
Iran’s downstream sector is almost as important for the country’s economic and strategic goals as the headline-hogging upstream
The Iranian downstream energy industry faces many of the same problems as its upstream counterpart - a lack of finance and foreign investment, and difficulty in accessing equipment and technology, largely but not entirely because of sanctions. The country's five-year energy plan post-sanctions involved spending about $70bn in petrochemicals and $14bn in refinery upgrades. The petrochemicals strategy is focused largely on making the most of Iran's giant, low-cost production of gas and associated natural gas liquids (NGLs) production. Iran's refining sector development has three key, related aims—to increase the output of lighter products; to minimise the yield of low-value fuel oil; and to el
Also in this section
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them