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What’s behind Iran’s $13B investment in domestic oil industry?

Iran’s oil exports are on the rise, particularly to China, though the country faces challenges in maintaining its oil production levels.

A view of refinery No. 2 (Phases 2, 3) of the South Pars Gas-Condensate field in Asalouyeh Seaport, north of the Persian Gulf in Iran.
A view of refinery No. 2 (Phases 2, 3) of the South Pars natural gas condensate field in Asalouyeh Seaport, north of the Persian Gulf in Iran. — SAEID ARABZADEH/Middle East Images /AFP via Getty Images

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