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Geopolitical Tensions Overshadow a Year of Big Discoveries


  • Hammered by US sanctions that have severely curbed its oil exports – and scaring off international investors – Iran has continued to go alone in exploration work within its borders.
  • Just last week, Iran announced that it had struck a new field in its southwest that contains up to 53 billion barrels of oil.
  • Initially lured by the promise of the geopolitical cooldown, major players such as Total have since abandoned their assets in Iran in the wake of the new US sanctions.



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