Friday, December 12, 2008
Iran crisis: Aging oil infrastructure could cripple its economy
The report by the
Singapore-based Facts Global Energy said Teheran has been plagued by aging
fields and lack of infrastructure, Middle East Newsline reported.
"Without a major change in policy and investment climate in Iran, crude
oil production and exports are projected to decline drastically in the
future," the report said.
The report said the
envisioned production rate would not allow for exports.
"The incremental supply that Iran is promising to the world will simply
not be available," the report said.