Iran to Reform Oil Contracts

From Business Report

Iran would have a new, attractive investment model for oil contracts by September, its president and oil minister told some of the world’s top oil executives in Davos yesterday, as part of its drive to win back Western business.

Iranian President Hassan Rouhani and Oil Minister Bijan Zanganeh stressed the importance of fossil fuel, with global energy demand rising, executives who attended the meeting said.

The two Iranians also said their new administration was keen to open up to Western investments and technology.

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