Iran plans to offer international oil companies more advantageous contracts to attract at least $100 billion of investments into development of oil fields in coming three years.
Iran will give up its current contract system, which does not allow foreign companies receiving a share in the Iranian projects, writes Financial Times referring to Mehdi Hosseini, Advisor of the Iranian Oil Minister.
Hosseini said that a new type of “risk-free” contracts and the detailed information will be announced in London in March 2014. He added that the leading companies “both American and European” will be able benefit from the contracts.
Last week Iran said that it is ready to reduce oil prices, if the sanctions against the country are eased.
Iranian oil export was reduced by more than a half after EU and US have toughened the sanctions in mid-2012 in a response to Tehran’s nuclear program.
In September 2013 Iranian President Hasan Rukhani and US President Barack Obama had a telephone conversation, which revived hope for restoration of diplomatic relations and could lead to growing presence of Iranian oil at the market.
This month the International Energy Agency (IEA) reported that the sanctions will hardly be eased in the near future, reported www.Iran.ru.--0-
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review