Door is open for US firms to invest in Iran oil industry
Baku, Azerbaijan, Oct. 19
By Fatih Karimov - Trend: Door is open for US companies to invest in Iran oil industry, Iranian Oil Minister Bijan Namdar Zanganeh said.
Although US companies have not gotten the green light from the US administration, the door is open on behalf of Iran for US companies, IRIB reported on Oct. 19.
The Supreme Leader has announced that there will be no economic participation with the US, Zanganeh said, but added that the leader's meaning was misunderstood, and "we see no problem for US companies which are willing to work in Iran."
Iran's Supreme Leader Ali Khamanei said in August that the Islamic Republic would not allow the US to make inroads into the country.
"We will firmly block their way. We will not allow the US to make economic, political or cultural inroads into the country. We will counter such infiltration with all our power," the Leader said.
An agreement with the P5+1 powers - the U.S., UK, China, Russia, France, and Germany - would trigger a rush by international oil companies (IOCs) to return to the country which has been off limits.
Iran is planning to change its oil contract model to allow IOCs to participate in all phases of an upstream project, including production.
The US law has banned the presence of its energy companies in Iran since 1995.
Edited by CN