• 4 minutes Why Trump will win the wall fight
  • 9 minutes Climate Change: A Summer of Storms and Smog Is Coming
  • 12 minutes Maduro Asks OPEC For Help Against U.S. Sanctions
  • 16 minutes Washington Eyes Crackdown On OPEC
  • 15 hours is climate change a hoax? $2 Trillion/year worth of programs intended to be handed out by politicians and bureaucrats?
  • 5 hours Ayn Rand Was Right
  • 2 hours Tension On The Edge: Pakistan Urges U.N. To Intervene Over Kashmir Tension With India
  • 4 hours Oil imports by countries
  • 6 hours Sanctions or Support: Despite Sanctions, Iran's Oil Exports Rise In Early 2019
  • 3 hours Indian Oil Signs First Annual Deal For U.S. OilIndian Oil Signs First Annual Deal For U.S. Oil
  • 3 hours Solar and Wind Will Not "Save" the Climate
  • 1 hour NZ Oil, Gas Ban Could Cost $30 Bln
  • 1 hour AI Will Eliminate Call Center Jobs
  • 18 hours Regular Gas dropped to $2.21 per gallon today

Global Energy Advisory May 19th 2017

Oil Rig

Politics, Geopolitics & Conflict

• Iran is holding a presidential election today and there seems to be a consensus that the incumbent, Hassan Rouhani, is the likely winner. Rouhani came to power in 2013 as a political moderate who managed to forge a deal with the West to lift economic sanctions that were choking the economy in exchange for curbing Iran’s nuclear power program. The Rouhani government restarted Iran’s energy industry and boosted its production closer to pre-sanction levels. However, the conservatives have gained in popularity over the years, arguing that the nuclear deal was disadvantageous to Iran and mocking Rouhani’s estimates of $50 billion in foreign investment waiting to start flowing into Iran’s economy. Rouhani’s lead has declined but it is still there, according to observers. If he wins, Iran will continue on the reform course, ramping up its energy industry with the help of foreign companies. If conservatives gain the upper hand, it’s very likely that tension with the West will increase, the U.S. won’t grant a sanction waiver to the businesses waiting to return to Iran, and energy industry growth will slow down. Regional tensions with Saudi Arabia will also jump – the bilateral rhetoric is already quite heated and a conservative win could escalate the situation. From an oil perspective, billions of dollars in oil and gas investment are at stake in this election, largely from European and…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin



Oilprice - The No. 1 Source for Oil & Energy News