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Commodities

Iran Restores 40% Capacity at Damaged Oil Fields

Guavy AI Editorial Team
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Oil
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Iran's Deputy Oil Minister Ahmad Zeraatkar announced that about 40% of the damaged production capacity at the South Pars oil and gas field has been restored. The damage occurred in March, when the US and Israel attacked the facility amid escalating tensions.

The restoration plan aims to be completed within two years, with approximately 50% of the work expected to finish by winter 2027. Zeraatkar stated that the infrastructure suffered serious damage, making full capacity restoration a lengthy process.

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