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    Iran to Offer Foreign Oil Companies Opportunities Only After Nuclear Crisis Settled

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    Iran has decided not to offer rights to develop its oil deposits to foreign companies until a final settlement with foreign governments over its nuclear program is reached, Bloomberg reported citing Mehdi Hosseini, the head of Iran’s Oil Contracts Revision Committee.

    MOSCOW, August 26 (RIA Novosti) - Iran has decided not to offer rights to develop its oil deposits to foreign companies until a final settlement with foreign governments over its nuclear program is reached, Bloomberg reported citing Mehdi Hosseini, the head of Iran’s Oil Contracts Revision Committee.

    An international conference in London intended to bring together international players interested in oil and gas projects in Iran was originally scheduled for November 3, but has now been postponed until February 2015, Bloomberg said.

    “We are very interested in seeing the international companies, especially the major companies, participate in that conference,” the Iranian official said, adding that the foreign companies can declare their interest in Iran immediately after the final agreement on Iran’s nuclear program is reached.

    The United States, Israel and a number of other nations have accused Iran of attempting to develop nuclear weapons under the guise of its peaceful nuclear program. Tehran has denied the allegations, claiming the program is aimed purely at meeting Iran’s increasing energy needs.

    The agreement reached between Iran and the P5 +1 (Germany, France, the United Kingdom, Russia, China and the United States) mediation group in Geneva on November 24, 2013, allows Iran to conduct certain nuclear activities and lifted a number of Western economic sanctions. A November 24 deadline has been set for the parties to come up with a long-term agreement, providing guarantees that Iran’s nuclear program will not be weaponized in exchange for the lifting of sanctions against Tehran.

    Topic:
    Iran's nuclear program (274)
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    sanctions, Iran’s nuclear program, business, gas, oil, P5+1, Iran’s Oil Contracts Revision Committee, Mehdi Hosseini, Tehran, United Kingdom, France, London
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