facebook
twitter
rss
account
search
search
 

Iran plans to court major oil companies if sanctions are lifted

Oct. 14, 2013 at 6:18 AM   |   Comments

| License Photo
TEHRAN, Oct. 14 (UPI) -- International companies will be invited to participate in oil projects in Iran if Western economic sanctions on its energy sector are lifted, an official said.

Ali Majedi, a deputy petroleum minister in charge of international affairs, said oil diplomacy is on par with economic diplomacy for Iran.

"After lifting sanctions, we plan to start talks with giant oil companies, inviting them to take part in oil industry projects," he said in an interview published Monday by the Oil Ministry's website Shana. "Meanwhile, oil companies should take into account that Iran sits atop one of the largest hydrocarbon reserves in the world."

Multilateral talks on Iran's controversial nuclear program begin Tuesday in Geneva. Western powers have targeted Iran's energy sector with sanctions in an effort to starve of it financing it could use for a nuclear program it says is for peaceful purposes.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Fireball Cinnamon Whisky recalled in Europe for antifreeze ingredient Fireball Cinnamon Whisky recalled in Europe for antifreeze ingredient
2
Eni makes major oil find offshore Congo Eni makes major oil find offshore Congo
3
U.S. sinks $25 million in funding for renewables U.S. sinks $25 million in funding for renewables
4
U.S. average gas price headed below $3 U.S. average gas price headed below $3
5
Elon Musk: We are 'summoning a demon' with artificial intelligence Elon Musk: We are 'summoning a demon' with artificial intelligence
Trending News
Around the Web
x
Feedback