Thursday, 25 August 2011

Iran: Peak Oil news

Iran's drive to halt oil decline falters

DUBAI, United Arab Emirates, Aug. 24 (UPI) -- Iran's efforts to slow the steady decline of its oil fields, some of which have been producing for six decades, is being seriously hampered by international sanctions imposed because Tehran refuses to abandon its contentious nuclear program.

"A lot is at stake," the Middle East Economic Digest, published in Dubai, reported this week. "Iran risks becoming a net oil importer if output rates continue to fall."

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