Journal
ENERGY POLICY
Volume 121, Issue -, Pages 464-475Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.enpol.2018.06.034
Keywords
Sanctions; Oil; Natural gas; Iran; Subsidy; Investment
Funding
- National Bank of Hungary Doctoral Research Excellence Award [EFET 01312T]
- Hungarian Ministry of National Capacities - Hungarian National Talent Program [NTP-NFP3-16-0616]
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This article discusses the prospects of Iranian domestic energy sector by focusing on the latest political and economic developments taking place in connection with the hydrocarbon industry. Although after partial lifting of the sanctions, substantial changes in the Iranian energy sector may present a new, favorable environment for international investments, the political economy of hydrocarbon management in Iran plays a significant role in the definition of current and prospective stakeholders, their aims and interests. This paper analyses existing policies and policy challenges of hydrocarbon management by contextualizing them with historical and political factors. Considering the recent prospects in the Iranian hydrocarbon sector, it is worth keeping only the lower expectations concerning the production boom of the Iranian hydrocarbon industry: due to external market trends (low oil price, oversupply in the market) and a long redistribution process, the most probable scenario proposes a slow and continuous transformation in the oil and gas sectors of the Islamic Republic. In practice, it means that both the extension of export capacity and the involvement of international companies will take place in a gradual, regulated way, in which all the interests of major Iranian political and economic stakeholders have to be considered.
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