Iran’s oil-and-gas industry was supposed to take off after the nuclear deal. Instead, one of the world’s largest energy sectors is languishing. International oil companies are staying on the sidelines as the Trump administration threatens to rip up the 2016 deal and reimpose oil sanctions lifted in exchange for limits on its atomic-power program. Iranian officials predicted the deal would result by now in $10 billion a year in fresh foreign spending in the oil and gas sector. But only about $1.3 billion has been injected over two years, mostly from China, said Homayoun Falakshahi, an Iran-focused analyst at the oil consultancy Wood Mackenzie. After an initial uptick, oil-production capacity has plateaued at 3.85 million barrels a day, according to the International Energy Agency, far below the varying estimates that Iranian officials have predicted over the years. France’s Total SA signed a $1 billion deal on President Donald […]