Iran is facing a significant crisis in its oil industry due to a blockade imposed by the United States, leading to severe limitations on oil storage capacity.
• Iran is repurposing old tankers for floating oil storage to manage decreasing capacity at Kharg Island, its main oil hub.
• The Kharg Island terminal is nearing its onshore storage limit of 13 million barrels, with current oil flows around 1 million barrels per day.
• Experts estimate that if oil inflows continue, the remaining storage will be filled within approximately 12 to 13 days, by late April to early May.
• The recently reactivated tanker, M/T Nasha, can provide only an additional 2 million barrels of storage, which is insufficient.
• Iran could face a shutdown of oil fields within about two weeks if the blockade continues, potentially resulting in a $430 million daily loss in export revenues and lasting damage to its oil infrastructure.
• The regime is also increasing flaring of excess gas at wells to prevent premature shutdowns, which risks permanent geological issues.
• Iran’s government is caught between maintaining oil production and negotiating over its uranium stockpile, with little incentive for negotiations from the U. S. at this time.
Without intervention, Iran's oil industry may face a near collapse, pushing the country to make urgent decisions regarding its oil production and negotiations over nuclear issues.
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