U.S. Sanctions aimed at limiting Tehran's nuclear ambitions and regional influence of the Islamic Republic, caused irreparable damage to the oil industry of Iran, said in the Reuters having examined financial documents and data to industry sources.
According to the Agency, over a quarter of all oil rigs in Iran's vandalized and some of them can not be restored in the event of the lifting of sanctions that analysts say may cause long-term impact on the oil industry. Rigs fail because they cannot be repaired due to the lack of supply of components.
"a Shortage of drilling rigs could damage the ability of OPEC to produce oil from old fields which require continuous pumping to maintain pressure and productivity. It would have delayed Iran to raise production to preganglionic levels if tensions with the United States weakened," - said in exclusive material.
the Sanctions have forced Iran to cut oil production by half since the beginning of 2018 to less than 2 million barrels per day because oil refineries around the world stopped buying its oil. The decline in production and exports has aggravated the recession in the country, deprived the government of its main source of income and led to mass layoffs in the oil sector of Iran.
a Sharp drop in oil prices in 2020 due to the impact of the epidemic of the coronavirus in global demand will exacerbate the pain for the Iranian economy, which is also linked to one of the largest outbreaks of the disease outside China.
At least 40 of the 160 oil rigs in Iran are non-operational or stopped for repairs, told Reuters. In the Republic of more drilling rigs than in regional competitor of Saudi Arabia (125 units), according to OPEC. But about 85 percent of the Iranian drilling rigs require maintenance and repair, which suggests that the number of broken rigs will probably continue to grow.
