By Gulf Intelligence
January 17
could mark a pivotal moment in Iran’s economic history; the day Tehran shrugged
off the shackles of Western-imposed sanctions and stepped back onto the global
energy stage as a serious competitor. Or it may not.
Iran’s new
economic freedom could reverse the fortunes of its struggling economy and open
the biggest bonanza for international energy companies since the ouster of
Iraqi President Saddam Hussein in 2003. Foreign firms are increasingly heading
to Tehran; the control centre that manages the country's position as home to
the world’s second largest natural gas reserves and fourth largest oil
reserves.
But…and it is
a big one…Iran’s is re-emerging into a volatile market. Oil prices have
collapsed by around 75% since June 2014 and dipped below $30/bl in January,
marking a 12-year low. Plus, Iran's cash requirements to bolster its oil and
gas sector as planned comes to US$ 186bn and investors – especially those with US
links – are particularly jittery. Still, it is inevitable that Gulf countries
will need to sharpen their competitive edges, as Iran’s tenacious appetite to
push to the front of the global jostle for Asian and European clients remains
unabated.
Download the White-paper - Click Here