Iran is positioning itself to benefit from the fallout from Saudi Arabia’s latest disastrous handling of the global oil markets. The Kingdom’s ability to metaphorically shoot itself in the foot has been well-documented by OilPrice.com and is perhaps nowhere better illustrated than by its recent announcement that oil and gas giant, Aramco, has been given the go-ahead to launch the Jafurah shale gas field project. Saudi Arabia trumpeted this as the biggest shale gas development outside the U.S. and one which will allow the Kingdom to become a net exporter of gas. Saudi Arabia added that it would free up more oil (that would have been burned for domestic power generation) for export and intimated that Jafurah would be the first of a number of such shale projects in the future. The supreme irony here is that although, as OilPrice.com has shown, the Jafurah shale project is a typical […]