The exploration and production side of the energy sector needs the bulk of the focus for a re-emerging Iran, a managing director at Iran’s oil company said. Iran next month rolls out the preliminary terms for contracts in a post-sanctions climate. Ahead of next month’s investment conference in Tehran, Ali Kardor, deputy managing director at the National Iranian Oil Co., said the county needs at least $250 billion in new investments . “During 2016-25, our upstream sector needs $176 billion and the downstream sector needs $77 billion of investment,” he said. Lower crude oil prices, down about 45 percent from last year, has forced most major energy companies to cut back on spending in exploration […]