While negotiations continue over the potential lifting of U.S. sanctions on Iran, Iran is planning to invest heavily in its oil industry and boost production Its largest investment is a new $220 million refinery on the southern island of Queshm which will boost its petrochemical output As China and Russia continue to support Iran in its posturing against the U.S., it seems likely that the country’s oil industry will flourish regardless of sanctions Iran is taking its oil future into its own hands, despite ongoing sanctions from the U.S. With higher oil sales and revenues in 2021, Iran is planning to invest in its oil industry by opening a new refinery, constructing a new pipeline, and fostering international relationships to enhance its export opportunities. While U.S. sanctions continue to restrict Iran’s oil exports, this is not stopping the country from continuing trade where possible and preparing for life after […]