by David Ramin Jalilvand
Parallel to the conclusion and implementation of the nuclear deal, Iran’s energy sector has become a subject of interest around the world. An estimated $100 billion in foreign investment are needed for the modernization of the Iranian energy industry. Following the relief of sanctions granted as part of the nuclear deal, the government of President Hassan Rouhani is now trying to gain cooperation with international companies. In order to make better sense of Tehran’s energy policy and to more accurately assess the overall situation in the Iranian energy sector, this paper argues that attention needs to also be given to Iran’s long-term developments. Unlike the past, Iran is now increasingly utilizing its oil and natural gas production domestically. This has important implications for the country’s political economy.