Iran Boosts Oil Recovery Rate To Counter U.S. Sanctions
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Given the gaps available to Iran in the current U.S. sanctions environment to continue to export its oil – principally via rebranding as Iraq oil and various shipping scams – Tehran is making a move to dramatically improve the recovery rate on its key oil sites. Last week, the Islamic Republic’s Petroleum Minister, Bijan Zanganeh, announced the awarding of a US$1.3 billion contract to improve oil recovery at two onshore oil fields in Khuzestan province to Iran’s main infrastructure and power construction company, MAPNA Group.…
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