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Tag Archives: Iran oil rigs idle

Exclusive: U.S. sanctions have idled a quarter of Iranian oil rigs

A staff member removes the Iranian flag from the stage

REUTERS, March 10, 2020 LONDON (Reuters) – At least a quarter of Iran’s oil rigs are out of action as U.S. sanctions strangle the Islamic Republic’s vital oil industry, according to a Reuters review of financial documents and industry sources, dealing a potentially long-term blow to its oil industry. The lack of rig activity could damage the OPEC member’s capacity …

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