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    A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, in this July 25, 2005 file photo

    Iran Offers No Specific Terms on New Oil Contracts to Russian Firms

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    According to reports, Iran has not offered specific terms on new oil contracts to Russian firms at their meeting Monday.

    MOSCOW (Sputnik) Iran has not offered specific terms on new oil contracts to Russian firms at their meeting Monday, one of the participants who wished to remain anonymous told Sputnik.

    The Iranian side held the presentation of its new oil contracts in November 2016. Following the event, a source told Sputnik that Iran had not provided Russia's companies with any documents, making only verbal statements, adding that the terms of the contracts could be unveiled to the Russian companies in late March.

    "Everything was like at the last meeting in Iran, it is even becoming laughable. We were not provided concrete terms for contracts, something which could be discussed in detail," the participant said.

    Iran was due to present new oil contracts to Russian companies in Moscow on Monday, a Russian Energy Ministry official told Sputnik on Sunday.

    "There was a discussion of general things, not substantive," the participant added.

    Tehran is drafting a new type of contract, dubbed Iran Petroleum Contract (IPC), aimed to provide basis for the state's cooperation with oil companies after the anti-Iranian restrictions, including in the oil sector, are lifted.

     

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    Oil, contracts, Iran, Russia
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