Despite rich reserves Iran still harsh place to do business

Despite rich reserves Iran still harsh place to do business

Baku, Azerbaijan, Dec.1

By Khalid Kazimov - Trend:

The new model of Iran's oil and gas contracts doesn't mean that Tehran offers a competitive investment environment, energy expert Gal Luft told Trend Dec.1.

Luft, a co-director of the Institute for the Analysis of Global Security (IAGS) a Washington based think tank, said that the new rules may be a significant step for Iran but from an investor's perspective they merely put Iran in par with the rest of the world.

In other words Iran is now catching up with other oil countries where private ownership over reserves is a common practice, Luft said.

"This doesn't mean that Iran offers a competitive investment environment. To the contrary, despite its rich reserves Iran is still a harsh place of doing business compared to other destinations," Gal Luft said.

Iran proposed its new model of oil and gas contracts called Iran's Petroleum Contracts (IPC) during a two-day conference held Nov 28-29 aimed at luring foreign investment to develop the country's aging petroleum industry.

Meanwhile Petroleum Ministry offered about 50 oil and gas projects to be developed by foreign countries and the participation of local partners.

Iran is increasing its gas export capacity in preparation for lifting imposed sanctions against its ailing economic and industrial sectors.

Iran expects the sanctions to be lifted at the first of coming year, as it is adhering to the terms of a July nuclear deal clinched between Tehran and the World's six major powers.

According to the July deal sanctions against Tehran are expected to be lifted or suspended in return for scaling down Tehran's controversial nuclear program.

Although the oil and gas prices have hit the rock-bottom in the global markets, international investors are considering Iran's petroleum projects with hope for big profits.

One of Azerbaijan's payment systems plans to provide new services
One of Azerbaijan's payment systems plans to provide new services
Weekly review of main events in ICT sector of Azerbaijan
Weekly review of main events in ICT sector of Azerbaijan
Azerbaijan, Turkic Council discuss creation of joint digital tools
Azerbaijan, Turkic Council discuss creation of joint digital tools
Loading Bars
Latest
Around 500,000 bd of Iranian oil to enter market this year - JP Morgan
New Turkish ambassador arriving in Azerbaijan (PHOTO)
Resources of Qarz Al-Hasaneh Mehr Iran Bank soar
Iran raises imports of electrical goods from Turkey
Turkey records fewer cargo shipments at Izmir Airport
Russia records 8,589 new daily COVID-19 cases
Ukraine organizes charter flight to Turkmenistan
Czech Republic, Georgia plan to sign number of agreements
US increases imports of clothes from Turkey
Iran's IOOC begins extraction of crude oil from Esfand oil field
Turkey sees decline in number of real estate bought by Iranian citizens in 1Q2021
MOL Group’s capex on Azeri-Chirag-Gunashli revealed
Georgia reports 578 new cases of coronavirus for April 19
Uzbekistan's Bukhara Refinery resumes operations
Turkmenistan launches online services for State Registration of Rights to Real Estate
Kazakhstan’s Almaty Power Stations JSC opens tender for turbines repair
Azerbaijan's agricultural production value continues to grow
MOL Group discloses production volume at Azeri-Chirag-Gunashli
Germany boosts imports of Turkish-made chemicals
Weekly review of Azerbaijani oil market
India's Delhi to lock down for six days as COVID-19 outbreak worsens
Azerbaijan announces 1Q2021 investments in oil, gas sector
Azerbaijan sees growth in gold price
One of Azerbaijan's payment systems plans to provide new services
Iran plans to increase electricity generation from nuclear power plants
Iran Khodro Company boosts its manufacturing
Iran's Ministry of Roads talks registry of vacant houses
Iran's parliamentary speaker talks JCPOA
Russia conducts over 126 mln coronavirus tests
Goldman Sachs invests $69 million in Britain's Starling Bank
Azerbaijan raises production of building materials
Turkmen products sold to various countries on exchange
Azerbaijan reveals number of entrepreneurs served by SME dev't centers
President Ilham Aliyev inaugurates newly renovated “Hovsan” and “Mashtagha” substations (PHOTO)
Iranian Economic Coordination Council discusses stock market situation
Ethylene production of Iran's Jam Petrochemical Complex has increases
Turkey sees increase in registration of Azerbaijani companies in 1Q2021
Azerbaijan reveals 1Q2021 cargo, passenger transportation data
Azerbaijan shares footage from Fuzuli's Sardarly village (VIDEO)
Clubhouse closes new round of funding that would value app at $4 billion -source
Global LNG trade expansion to see slower pace in 2021
Belarus ready to share experience, knowledge in agrarian sector with Azerbaijan - minister
Iranian currency rates for April 19
Eurasian gas production to near 2019 levels
Azerbaijani currency rates for Apr. 19
Austria's 1Q2021 import of Turkish grains, legumes surges
Turkey reveals 2M2021 cargo shipment figures via local ports from Italy
European gas demand to recover to pre-crisis level in 2021
Bushehr nuclear power plant remains safe during earthquake
Iran begins enriching uranium using new generation centrifuges
Iran's National Housing Action Plan price not to increase - Deputy Minister
Iran concerned over increase in COVID-19 infections - President Rouhani
ACG oil transshipment from Ceyhan terminal nears 63 million barrels YTD
Iran sees increase in number of new mines
Two dead in Tesla crash in Texas that was believed to be driverless
Iran records increase in licensing for establishment of enterprises
Iran’s GTC discloses volume of wheat purchased from farmers
Bank Keshavarzi Iran issues loans in Lorestan Province
Iran implementing plans for dev't of facilities in Persian Gulf Special Economic Zone
Iran shares data on exports of handicrafts from Zanjan Province
Oil drops as surging COVID-19 infections stoke demand concerns
Israel and Greece sign record defence deal
Armenia should abandon all territorial claims against Azerbaijan - Azerbaijani official
India's COVID-19 tally surpasses 15 mln, with 273,810 daily cases
WHO includes two coronavirus vaccines developed by scientists of Uzbekistan in drug candidates list
Brazil reports 1,657 single-day deaths from COVID-19
Сo-op in Eurasian transport networks may create new opportunities for transit corridors between Latvia, Azerbaijan - embassy
12 European football teams to form breakaway 'Super League' throwing elite game into turmoil
Turkey confirms 55,802 new COVID-19 cases, 318 deaths
Five diplomats to stay in Czech embassy inn Moscow - presidential office
NASA's Mars helicopter to attempt first flight Monday
Turkey extends condolences to Egypt over deadly train accident
Albania opens 2nd int'l airport
Four dead in light plane crash near Paris
Israel reports 130 new COVID-19 cases, 837,012 in total
Canada's Trudeau mobilizes federal workers to battle COVID-19 in Toronto and rest of Ontario
Rockets strike Iraqi military base hosting U.S. contractors, Iraqi military says
Number of COVID-19 cases across globe up by over 809,000 in past day
Iran intends to increase electricity exports
Africa's COVID-19 cases surpass 4.42 mln: Africa CDC
20 employees of Czech embassy in Moscow declared personae non grata
Uzbekistan may start producing coronavirus vaccines by year end
Iran, Serbia emphasize developing trade-industrial ties
Turkey's 1Q2021 export of ready-made clothes to Iran grows
Kutaisi Int’l Airport receives first Wizz Air flight from Vilnius since start of pandemic
Mexican president to propose extension of welfare programs to curb migration
Verstappen wins F1 thriller at Imola
97 passengers wounded in Egypt's train derailment: ministry
Czech ambassador summoned to Russian foreign ministry
UK records another 1,882 coronavirus cases, 10 deaths
Weekly review of main events of Azerbaijani financial market
Cuba's Raul Castro leaves the political stage
Azerbaijan increases silver production
Turkey develops innovative COVID-19 vaccine, minister volunteers
Uzbekistan to receive Sputnik V vaccine by late April
Immunization to be temporarily suspended over Easter holidays
Iran's Energy Exchange announces products to be on sale on April 19
Iran’s Bahar Azadi gold coin price again falling
At least 16 killed in clashes in South Sudan's Lakes State
Volume of cargo loaded, unloaded in Iran’s Astara port surges
All news