Subcommittee Chairman Ros-Lehtinen Opening Statement at Hearing on Iran Nuclear Negotiations
Follow @HouseForeign Rep. Ileana Ros-Lehtinen (R-FL), Chairman of the Subcommittee on the Middle East and North Africa, delivers an opening statement at a hearing entitled "Examining What a...
By: House Foreign Affairs Committee
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Subcommittee Chairman Ros-Lehtinen Opening Statement at Hearing on Iran Nuclear Negotiations - Video
Saipa vs Sepahan - Highlights - Week 15 - 2014/15 Iran Pro League
By: PersianLeague
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Saipa vs Sepahan - Highlights - Week 15 - 2014/15 Iran Pro League - Video
Q A: What #39;s Next For Iran?
Senator Mark Kirk and Foreign Policy Initiative #39;s Christopher Griffin discuss what is next for Iran and the importance of the Menendez-Kirk sanctions legislation.
By: SenatorKirk
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Q&A: What's Next For Iran? - Video
#39;Intl law applied highly selectively when it comes to Iran #39;
Top US and Iranian diplomats have decided to stay in Vienna to continue tense negotiations on the nuclear issue until a consensus suitable to both states is reached. World powers are trying...
By: RT
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'Intl law applied highly selectively when it comes to Iran' - Video
ABU DHABI (CNNMoney)
Iran and world powers are meeting in Vienna this week in an attempt to reach agreement on reconfiguring its nuclear program before a November 24 deadline.
It's far from certain that a deal will be done, but businesses are eager to move quickly to tap the potential of Iran's energy resources and highly-educated population of 80 million.
Related: These countries are getting killed by cheap oil
When he was at Goldman Sachs, emerging market strategist and author Jim O'Neill had Iran on his list of "Next 11" countries -- those offering the best opportunities for sustainable growth.
Oil and gas reserves
Iran's energy sector has been starved of technological know how. A return to the fold could change all that, and the potential is enormous. "The Iranian gas production can explode," said Fereidun Fesharaki, chairman of FACTS Global Energy. "It can supply huge amounts of gas and that gas has not been developed."
Iran sits on 33 trillion cubic meters of natural gas, or 18% of global reserves, according to the 2014 BP (BP) World Energy Report. With its giant South Pars field, Iran ranks number one in the world ahead of Russia and Qatar.
There's plenty of oil too. Iran has the second largest proven reserves in the Middle East, behind only Saudi Arabia. At 157 billion barrels, those reserves account for more than 9% of the global total.
Playing catch up
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Iran nuclear deal could spur rapid growth