Iran Oil Although its post-sanctions production boom appears to be have waned, the Islamic Republic of Iran still hopes to increase its energy exports, exploit new production contracts and expand its market share in 2016. Mohsen Ghamsari, director of international affairs for the National Iranian Oil Company (NIOC) told Bloomberg that Iran hopes to double its energy exports this year, provided that market demand remains stable. Iran currently produces 3.8 million bpd and exports around 2 million bpd, a tremendous increase from 2015 and a figure which comes close to the country’s peak production before western sanctions curtailed the industry in 2012. Mr. Ghamsari believes that Iran’s export threshold is over 4 million bpd, and such a figure is achievable provided the “right conditions” are met. Officials at NIOC and Iran’s energy ministry have been prone to bluster in the last year, yet the country’s recovery has astonished observers […]