Young Journalists Club | Latest news of Iran and world

News ID: 5941
Iran » Iran
Publish Date: 16:34 - 05 January 2015
Tehran, YJC. After the intensification of West’s sanctions against Moscow and withdrawal of the Russian companies from European oil projects, the companies have decided to open a new chapter in bilateral cooperation with Tehran by financing its oil and gas projects.


Given the developing trend of Iran’s nuclear talks with the Western states and the increasing possibility of removing trade sanctions against the country in a near future, the Iranian Oil Ministry began negotiations with some of the foreign companies that possess technological and financial opportunities to go back to their activities in the Iranian market.

However, since the presence of a number of the leading companies from Europe in the Iranian oil sector has come under conditions, authorities of the National Iranian Oil Company (NIOC) have been seeking more reliable sources and began talks with a number of the Russian and Chinese companies.

Reports have gone that the talks with Russian and Chinese companies have been constructive leading even to the presence of some Russian-based companies in Iran’s sectors of oil and gas.

An advisor to the managing director of the National Iranian Gas Company (NIGC) Asghar Soheilipour stated in an interview that Russian companies are mostly willing to cooperate with Iran in the sphere of financing the country’s oil and gas programs and have even offered to start their cooperation originally by providing $2 billion with no formalities.

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