U.S. President Donald Trump speaks about Iran and the Iran nuclear deal in front of a portrait of President George Washington in the Diplomatic Room of the White House in Washington, U.S., October 13, 2017. REUTERS/Kevin Lamarque
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Iran, already struggling to attract investors to its energy industry, may find things tougher still as U.S. President Donald Trump refuses to certify the nuclear deal that eased sanctions on OPEC's third-largest producer.The move won't immediately curb the flow of some 2.3 million barrels of daily Iranian crude exports – more than three times the amount of oil the U.S. has sold abroad over the past year.Companies such as Total SA, which in July became the first major Western energy company to sign a production deal with Iran since the 2015 accord, may face new hurdles in contributing to the country's estimated $100 billion need for oil and natural gas investment.Which companies are most exposed to Iran?American citizens can't do business with Iran, and U.S. companies are prohibited from working there except through foreign subsidiaries.Iran has raised oil output by about a third to some 3.8 million barrels a day since sanctions were eased in January 2016, and it's seeking to boost production capacity for crude to 4.7 million barrels a day over the next five years.
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