Israel and Iran are engaged in assaults for a fifth straight day, with Israel concentrating on Iran’s nuclear amenities, navy websites, oil and gas facilities, and state TV headquarters.
The escalation has raised fears of a widening battle and turmoil in international power markets.
Iran is among the high international producers of oil and gasoline and holds the world’s second largest confirmed pure gasoline reserves and the thirdlargest crude oil reserves, based on the US Power Data Administration.
How large is Iran’s oil trade?
With about 157 billion barrels of confirmed crude oil, Iran holds a few quarter (24 p.c) of the Center East’s and 12 p.c of the world’s confirmed oil reserves.
Iran is the ninth largest oil producer globally and the fourth largest inside OPEC, producing about 3.3 million barrels of crude oil per day. It exports roughly 2 million barrels of crude and refined gasoline every day.
In 2023, Iran’s web oil export revenues have been estimated at $53bn, up sharply from $37bn in 2021. Whereas Iran’s economic system is comparatively diversified in contrast with lots of its neighbours, oil continues to be a vital supply of presidency earnings.
Nevertheless, years of restricted international funding and worldwide sanctions have saved Iran’s oil manufacturing nicely beneath its full potential.
After Israel’s assaults on Iran started on Friday, fears of a wider Center East battle despatched oil costs hovering practically 7 p.c in a single day. Costs have held regular about that degree since.
The place are Iran’s oil amenities?
Iran’s oil amenities are unfold throughout a number of areas, primarily within the south and west of the nation. These embody onshore oilfields, offshore platforms, refineries, export terminals and pipelines.
Practically all of Iran’s crude oil flows by way of Kharg Island, the nation’s fundamental export terminal, which handles near 1.5 million barrels per day.
Greater than 20 p.c of the world’s seaborne oil passes by way of the Strait of Hormuz, a slender maritime chokepoint between Iran and Oman.
Main onshore oilfields embody:
- Ahvaz Area – Iran’s largest oilfield and one of many largest globally
- Gachsaran Area – second-largest Iranian subject, producing mild crude
- Marun Area – one other high-output subject close to Ahvaz
- Agha Jari, Bibi Hakimeh and Karanj fields – situated largely inside Khuzestan province in southwestern Iran, a key oil-producing area
Main offshore fields embody:
- Abuzar, Foroozan, Doroud and Salman fields – situated within the Gulf and shared with Saudi Arabia and the United Arab Emirates
Its fundamental refineries embody:
- Abadan Refinery – one of many oldest and largest refineries within the Center East
- Tehran Refinery – provides the capital and close by provinces
- Isfahan, Bandar Abbas, Arak and Tabriz refineries – course of numerous crude sorts for home use and export
How large is Iran’s gasoline trade?
Iran has the world’s second largest confirmed pure gasoline reserves after Russia. They’re estimated at 1,200 trillion cubic toes (34 trillion cubic metres), which accounts for 16 p.c of world reserves and 45 p.c of OPEC’s complete.
Iran is the third highest producer of pure gasoline behind the US and Russia with manufacturing reaching 9,361 billion cubic toes (265 billion cubic metres) in 2023, accounting for no less than 6 p.c of world manufacturing.
Like oil, Iran depends closely on home firms to develop its gasfields attributable to worldwide sanctions, which have restricted international funding and know-how entry.
The place are Iran’s gasoline amenities?
Iran’s gasoline amenities are concentrated primarily within the south, particularly alongside the Gulf, with main gasfields and processing vegetation.
Iran’s largest gasfield, and the most important on the earth, is the South Pars subject, which it shares with Qatar, the place it’s often known as the North Area.
Different essential gasfields are the North Pars, Golshan, Ferdowsi, Kangan and Nar fields.
Iran’s fundamental gas-processing centre is the South Pars Gasoline Advanced, situated in Bushehr province.
Which amenities has Israel attacked?
Israel has struck multiple energy facilities, together with the South Pars gasfield, Fajr Jam gasoline plant, Shahran oil depot, Shahr Rey oil refinery and Tehran gasoline depots.
