Politics and economics of Iran’s oil and gas policies post JCPOA -

Abstract

This project is concerned with a contemporary analysis of the political and economic implications of Iran’s oil and gas policies post implementation of the Joint Comprehensive Plan Of Action (JCPOA). Iran’s oil and gas have long been an essential element of the country’s economy, in large part due to their significant scale. As a result, Iran’s energy industry has been the target of sanctions and international pressure and thus positions itself as an insightful sector to assess, following the Iranian nuclear deal. Research is therefore focused on the state and orientation of Iran’s oil and gas sectors. This comprises an overview of the industry, how it has been affected, or not by the JCPOA and to which companies and countries Iran is aiming to align its energy industry. This research provides the framework for the ensuing analysis of how and what these domestic energy polies imply in terms of Iran’s foreign policy directions both regionally and internationally. In conclusion, research suggests that Iran is currently implementing energy policies that may be construed as ‘a-political’. As such, Iran’s energy policies are considered to prioritize economics with the sole purpose of redeveloping and reenergizing its energy industry. Regionally, Iran is pursuing cooperation and negotiation whilst at the international level it is seeking collaboration with the full range of global actors. Whilst U.S. engagement in oil and gas remains inexistent, research indicates that this is a U.S. policy, rather than an Iranian one. On the contrary, Iran has indicated openness towards commercial U.S. engagement in its energy sector. European engagement remains limited but this is considered to be a result of the continuation of other U.S. sanctions that limit commercial involvement for both European oil and gas companies alongside major European banks. On the other hand, Russian and Chinese commercial engagement in Iran’s oil and gas is continuing to grow but with differ